Introduction:

Today saw significant developments in both Turkey and the USA regarding cryptocurrency regulations. In Turkey, measures were taken to address money laundering concerns, a crucial step for the country to be removed from the FATF grey list. Meanwhile, in the USA, a contentious proposal regarding the SEC's rule on banks holding digital assets was passed by the Senate, despite President Biden's warning of a potential veto.

Turkey's Crypto Law:

In Turkey, key points of the crypto legislation were revealed by Ömer İleri, a key figure in drafting the bill. Notably, global exchanges will remain operational, and end users will not be subjected to taxation. Additionally, TÜBİTAK's role in token listing processes will be limited, with a focus on introducing written procedures to prevent arbitrary listings. The Capital Markets Board will oversee listing procedures, with input from TÜBİTAK and other institutions on technical criteria.

USA Crypto Voting:

On the other side of the Atlantic, President Biden's warning against overturning the SEC's rule on banks holding digital assets was disregarded by the US Senate, with a 60 to 38 vote in favor of the proposal. Despite bipartisan support for the proposal, it faces the threat of a presidential veto. The Blockchain Association highlighted the growing awareness among the public, especially young people, regarding the importance of crypto regulation.

Conclusion:

In conclusion, both Turkey and the USA have made significant strides in shaping their respective crypto regulations. Turkey's focus on combatting money laundering while ensuring the continued operation of global exchanges reflects a balanced approach. Meanwhile, the USA's Senate decision to push forward with the proposal despite presidential opposition underscores the evolving landscape of crypto regulation and its importance in contemporary governance.