A ban has been imposed on cut gold, which has seen increased sales in recent times. The ban decision officially published in the Official Gazette took into account complaints conveyed by citizens and industry representatives. Cut gold will now only be granted to real individuals engaged in precious metal production or trade with jewelry businesses as indicated on their tax registration. The Presidential Decree on the matter was published in the Official Gazette. Minister Şimşek had hinted at this measure. Additional regulations to prevent informalities in the precious metal market, previously announced by Treasury and Finance Minister Mehmet Şimşek, have been implemented. Consequently, following an evaluation of current market conditions and demands, several changes were made to the regulations in Decree No. 32 on the Protection of the Value of the Turkish Lira. The amendment was prompted by an increase in the trading of products referred to as drawn gold or cut gold, which are produced by shaping strips of gold after making them thin. Due to the absence of any standards for cut gold and the susceptibility of its sale to individuals investing in it for malpractice, the complaints received from citizens and industry representatives were also considered in this decision. Only authorized jewelry businesses by the Ministry of Trade and real individuals residing in Turkey engaged in precious metal production or trade as indicated on their tax registration will be permitted to sell drawn precious metals to anyone other than them. Furthermore, taking into account the maximum amount of 25,000 liras that can be freely taken abroad effectively, the amount set for identity verification in the legislation aimed at preventing money laundering from crime proceeds and financing terrorism was raised to 185,000 liras due to the increase in the exchange rate. The new regulations also allow those who borrow foreign currency/precious metal loans domestically to provide collateral in foreign currency if they are direct owners of the group company or shares.