Important steps were taken last month regarding the future of cryptocurrencies in Turkey. Many statements were made about the broad scope and vision of these steps. While various explanations were given about potential developments in taxation and exchanges, a significant development occurred in the Turkish Grand National Assembly (TBMM) a few minutes ago.
Law Proposal Accepted
The proposal to amend the Capital Markets Law, which has occupied the agenda of the Turkish Grand National Assembly for weeks, was accepted and enacted by the TBMM General Assembly.
This decision, made swiftly before the TBMM enters its recess on July 1, holds great importance for monetary policies and cryptocurrencies. The process, which has been on the agenda for weeks, now raises curiosity about which doors it will open.
The proposal, which emerged from extensive work, was approved, and detailed information about its scope was revealed. Statements were also made about the direction of government policies, and potential advancements in exchanges and cryptocurrencies were mentioned.
Opinions were also expressed about the steps that could be taken for Turkey to transform into a cryptocurrency hub in the future.
Current Status of Bitcoin
While these developments were happening, the current status of cryptocurrencies is also being closely monitored. As of the time of writing, Bitcoin is trading at $61,000, following a 0.53% drop in the last 24 hours.
After the US government sent 4,000 BTC to the Coinbase exchange, approved for sale by US courts, the price fell from $61,500 to the mentioned level. BTC’s price had dropped to $58,500 in recent days and then rose to these levels.
BTC’s market cap remains above $1.2 trillion as of the time of writing. However, the 24-hour trading volume continues to worry investors. BTC’s trading volume stands at $23.1 billion after a 33% drop in the last 24 hours.
