A draft Turkish law that brings licensing and registration obligations to crypto asset service providers was presented to parliament on Thursday, as the country aims to exit a financial watchdog "grey-listing".

According to the draft regulations submitted to parliament by President Tayyip Erdogan's ruling AK Party, the cryptocurrency trading platforms and other companies in the area need to obtain licenses from the capital markets board among others.

(Reporting by Ezgi Erkoyun and Nevzat Devranoglu; Editing by Jonathan Spicer)