Proposal is on its way to the Parliament: Leveraged transactions are being banned in crypto.

The draft law, which will define crypto assets for the first time and regulate their transactions within a legal framework, is in its final stages of preparation. The bill will be presented to the Parliament this week. According to the proposal, short selling and leveraged trading will not be allowed in crypto assets.
FIRST TIME DEFINING
Cryptocurrencies will be defined as "intangible assets" for the first time. Transactions will be ensured to be carried out transparently and reliably.

With the legislation proposal that will be brought to the Parliament this week, a comprehensive definition will be made for crypto assets in parallel with the definitions of international organizations.
The authority will be given to the CMB
The authority to determine the principles regarding issuances will be given to the Capital Markets Board (SPK).

Licensing and supervision of trading platforms will also be conducted by the CMB.
ALL TRANSACTIONS WILL BE TRACKED
Service providers will be required to meet minimum operational requirements, similar to financial institutions.

All transfer transactions taking place on the platforms will be recorded and will be subject to compliance with the regulations to be carried out by the Financial Crimes Investigation Board (MASAK).
Leveraged trading is being banned
Sudden and sharp changes in the prices of cryptocurrencies are considered to increase the risk, so it is evaluated that leveraged trading, short selling, and margin trading should not be subject to.

Foreign applications also emphasize that restrictions and limitations have been imposed in this context.
Investment Advisory will be regulated.
Investment advisory and portfolio management principles and rules will be established through secondary regulation.

The Securities and Exchange Commission will be granted authority in this regard by law.

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