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The Turkish Parliament has adopted a bill regulating the circulation of cryptocurrencies in the country. For violation of the rules, the document provides for fines from $7.5 thousand to $182.6 thousand, as well as imprisonment for a period of three to five years for individuals, TASS reported, citing the parliamentary television channel.

Turkey's ruling Justice and Development Party sent this bill to parliament in May, and the first versions of the bills appeared in 2021.

The adopted document is expected to influence the removal of some claims against Turkey by the Financial Action Task Force (FATF). The country may be removed from the gray list, which it is on due to shortcomings in measures to combat money laundering and the financing of terrorism.

Experts interviewed by RBC-Crypto explained what reasons may lie behind the adoption of this bill and what difficulties await crypto users and platforms living and working in Turkey.