According to the news of Hazal Ateş from Sabah on February 18, 2022, the Ministry of Treasury and Finance followed the crypto money transactions, including NFT. With the legal regulation to be introduced, it is planned to prevent abuses and tax the market.
The Ministry of Treasury and Finance followed this sector on the grounds that it is suitable for money laundering and fraud in the NFT market, which is the new trend of recent times. Financial Crimes Investigation Board (MASAK) started to examine NFTs by evaluating them in terms of money laundering risk.
NFT Area Also Taken into Focus
MASAK, which monitors transactions between banks and crypto currency exchanges, performs liability audits and freezes accounts that have been found to have illegal transactions. MASAK started to work on NFTs as well.
On the other hand, we recently stated that the AK Party continues to meet with stakeholders in order to establish the infrastructure of the legal regulation regarding crypto assets, and that the legal deputies will meet for legal regulation next week.
Legislative Infrastructure Will Be Established
Lawyers will form the infrastructure of the legal regulation by evaluating the demands and suggestions submitted by crypto asset representatives to date. With the study carried out by the Ministry of Treasury and Finance, it is aimed to prevent risks in the crypto money market, including NFT. With the legal regulation, it is planned to prevent abuses in the crypto money market and to tax the market.
Companies will be given time for infrastructure works and protective steps will be taken, such as providing collateral. Financial Crimes Investigation Board will be authorized for suspicious money transactions. According to the draft, natural and legal persons determined to operate as a crypto asset service provider without obtaining permission will be sentenced to imprisonment from 3 to 5 years.
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