A ban has been imposed on the increasingly popular cut gold recently. The ban decision, published in the Official Gazette and put into effect, took into consideration the complaints conveyed by citizens and industry representatives. Cut gold has been banned. Cut gold will only be given to individuals who are engaged in the production or trade of precious metals in jewelry stores or specified in the tax registration certificate. The Presidential Decree on the matter was published in the Official Gazette. Minister Şimşek Had Given the Signal The regulation to prevent informal economy in the precious metal market, announced to be carried out by Minister of Treasury and Finance, Mehmet Şimşek, additional steps were taken. In this context, evaluating the current market conditions and demands, some changes were made in the Decision Numbered 32 on the Protection of the Value of Turkish Currency. It Had Recently Increased in Sales. According to the information obtained from the Ministry of Treasury and Finance, the regulation was made due to the increase in sales in recent periods in the buying and selling of products known as drawn gold or cut gold, which are formed by cutting or processing a thin strip of gold into various shapes after processing gold. NO STANDARD, PRONE TO EXPLOITATION. The fact that there is no standard for cut gold and its vulnerability to exploitation, as well as complaints conveyed by citizens and industry representatives, were taken into account in the step taken. In this context, authorized jewelry stores designated by the Ministry of Trade and Turkey-based individuals stated to be engaged in the production or trade of precious metals in the tax registration certificate will not be able to sell drawn precious metals to individuals other than those living in Turkey. The Amount that Can Be Taken Abroad was Set to 185,000 Liras. In addition, considering the maximum limit of 25,000 liras that can be freely taken out of the country in cash, the amount determined for identity verification in the legislation for preventing the laundering of proceeds of crime and financing of terrorism was increased to 185,000 liras due to the increase in exchange rates. It was made possible for individuals/entities who directly own shares in group companies or shares of those who have taken out foreign currency/precious metal loans domestically to provide collateral in foreign currency.