Türkiye plans to submit new encryption bill to leave FATF "grey list"

Turkish Finance Minister Mohammad Simshek said that he will plan to submit a cryptocurrency-related bill to Congress as soon as possible so that Turkey can leave the “grey list” of the Financial Action Task Force (FATF). “We plan to submit it to Congress as soon as possible.” Congress submits a bill on cryptocurrencies. After that, if there are no other political considerations, there will be no reason for Turkey to remain on the gray list.” The gray list is the common name for the FATF’s “Countries and Territories Subject to Enhanced Monitoring” list, which identifies countries and territories that are uncooperative in combating money laundering and terrorist financing. FATF downgrades Türkiye to gray list in 2021. The "high-risk countries and regions in the call to action" are known as the blacklist, and as of October 2023, North Korea, Iran and Myanmar have been designated. (Coinpost)