(CoinDesk Turkey). The Turkish government is preparing to introduce new crypto legislation. Although it’s not clear how restrictive these new laws will be, they haven’t stopped adoption at the institution level. Two of Turkey’s biggest banking groups have announced crypto initiatives this week.

The investment arm of Akbank has announced that it has acquired Stablex . A top official from Ak Investment said the group wanted the be a major player in the digital assets space.

The next day, , a leading bank, launched its crypto wallet application. BTC Price Index and Live Chart – CoinDesk”>(BTC), USD Coin (USDC) and ether <a data-position="autolink" href="http://coindesk.com/price/ethereum/" title="Ethereum Price

The Global Crypto Adoption Index for 2023 by Chainalysis places Turkey among the top twenty countries. This year, Turkey hosted the Ethereum conference Devconnect.

The government is not a big fan of unchecked adoption. The central bank of the country banned the use crypto to make payments in 2021. However, officials did not rule out a complete ban.

A government official announced in November that crypto-legislation would soon be brought before Parliament. The framework is vague, but it is part of Turkey’s strategy to get off the “gray list” created by the Financial Action Task Force (FATF), which includes countries who need to improve their anti-money laundering measures and terrorist financing.

Sandali Handagama is the editor.