16.01.2026 14:41
The Ministry of Treasury and Finance denied claims that the Precious Metals Tracking System (KMTS) is an asset tracking application for citizens, stating, "There is no monitoring or record regarding who has purchased or sold the gold produced within KMTS. The assessment of KMTS as an asset tracking system is merely a misdirection aimed at misleading the public."
In a statement made by the Ministry of Treasury and Finance, it was noted that recently some media outlets have reported that the KMTS, which will be implemented by the General Directorate of the Mint and Stamp Printing House, is "an open asset tracking system," "targets millions of citizens with savings under their mattresses," and that "gold without documentation will only be considered as 'a yellow metal.'
"THEY ARE TRYING TO CONFUSE CITIZENS"
It was pointed out in the statement that these news articles are manipulative in nature, aimed at deliberately confusing citizens and creating a sense of panic, and that they are unfounded. "As is known, fake or low-quality gram gold can be produced in the market, and our citizens can be victimized by this situation. With the implementation of the KMTS, precious metals weighing 1 gram and above produced by refineries will be packaged and standardized, and thanks to the security measures to be applied, our citizens will have access to safe and verifiable gold. The KMTS is a system where information such as the producer, production date and location, weight, purity grade, serial number, and similar details of standard unprocessed precious metals produced by refineries and printed precious metals are engraved on the packaging of each product through a unique code on a special label supplied by the Mint, and recorded and tracked through the same code." it was evaluated.
"THE CLAIMS DO NOT REFLECT THE TRUTH"
In the statement, it was emphasized that only the production phase is securely monitored within the system, stating, "There is no tracking or recording regarding who the gold produced within the KMTS is bought from or sold to. Evaluating the KMTS as an asset tracking system is merely a misleading direction aimed at the public. The claims that citizens cannot exchange their gold, cannot include it in the system, or cannot acquire any property with this gold do not reflect the truth." It was pointed out that gold exchange transactions are carried out through jewelers, banks, and authorized financial institutions, and that there are no legal obstacles to transactions regarding the transfer of savings. It was stated that "the practice of conducting transactions of 30 thousand lira and above through banking and financial institutions is not exclusive to gold trading but is applied within the framework of the Tax Procedure Law regulations covering the trading of all commodities."
"DO NOT BELIEVE SUCH NEWS"
In the statement, it was emphasized that the system is aimed at protecting consumers and jewelers against weight and purity fraud in gram and quarter gold, and the following was recorded: "It has been observed that false news is circulating claiming that citizens cannot exchange their savings, that gold will be confiscated, or that gold will be considered invalid. It is strongly announced that it is important not to trust such news, which is presented out of context and aims to undermine confidence in financial markets, and is based on certain calculations that carry the nature of black propaganda. Our Ministry will fully exercise its legal rights regarding misleading shares related to this regulation that protects the legal rights of our citizens and jewelers."