DEM Party's Oluç: Turkey is late in regulating crypto assets

Peoples' Equality and Democracy Party (DEM) Antalya MP Hakkı Saruhan Oluç, in a press conference he held at the Parliament, reminded that the Bill on Amendments to the Capital Markets Law, which includes regulations regarding crypto assets, is being discussed in the TBMM Planning and Budget Committee.

Recalling that the Financial Stability and Development Committee warned Turkey 6 and a half years ago that "crypto assets have no legal basis," Oluç stated that the submission of the proposal to the Parliament was very late. 

"THE GOVERNMENT DID NOT MAKE ANY LEGAL REGULATIONS FOR 6 AND A HALF YEARS"

Stating that there could be two reasons for this delay, Oluç continued as follows:

"First; there are segments that have obtained very serious unfair gains using crypto assets during this period. Second, there has been very serious money laundering using crypto assets. Now you might ask, where are you getting this from? When the Financial Action Task Force (FATF) put Turkey on the grey list, it explained its reasoning as 'the government not doing what is necessary regarding money laundering and terrorist financing issues.' In other words, there is a great deal of money laundering and black-market trade. It emerges as an area where all kinds of dark business and large sums of money circulate. Therefore, due to the existence of segments that obtained very serious and large unfair gains and money laundering, this government did not make any legal regulations in the crypto field for 6 and a half years. So why is this regulation coming in a hurry now? Because there is an FATF meeting in June, and it will be decided whether Turkey will be removed from the grey list or not. Now this law will be enacted in a rush, and a step will have been taken for Turkey to be removed from the grey list. That is why the regulation is being made."

Oluç claimed that they do not object to a bill coming regarding crypto assets, but that the proposal is insufficient. Oluç noted that no tax is imposed on those who make large gains with crypto assets, and that there is no insurance regarding the protection of small investors in the regulation.

DEM Party Kocaeli MP Ömer Faruk Gergerlioğlu also said at a press conference he held at the Parliament that the problems arising from the Social Security Institution (SGK) not covering certain medicines should be resolved.

Gergerlioğlu said, "You file a lawsuit and say, 'SGK, pay this money.' You eventually win this lawsuit, but months and years pass, and your chance of treating your illness ends. You get your rights in the end, but by then it is too late. This problem needs to be resolved. You cannot get your rights in the SGK system without filing a lawsuit. Since time works against the patient, the patients end up suffering."