Turkey's Finance Minister, Şimşek, stated that the country's cryptocurrency regulations are in the final stages and are expected to bring licensing and operational standards to trading platforms. He said that these regulations aim to reduce the risks of trading cryptocurrencies and help the country be removed from the "gray list" of international financial crime regulatory agencies. According to a report by blockchain analysis company Chainalysis, Turkey's original cryptocurrency trading volume ranked fourth globally, reaching approximately $170 billion last year, behind only the United States, India, and the United Kingdom.