New Details Emerge Regarding the Regulation of Cryptocurrencies in Turkey

Dr. Ömer İleri, Deputy Chairman of the AK Party and Head of Information and Communication Technologies, made statements regarding the ongoing legal regulatory efforts concerning crypto assets.

İleri stated that it is a natural process for efforts to establish a legal framework for crypto assets and similar emerging fields to come to the public’s attention.

İleri, in his assessment of the issue, stated, “It is a natural and correct process for legal regulations to be developed regarding crypto assets and similar newly emerging fields, and for these studies to be brought to the public’s attention in various aspects. We, both as a party and as a government, always closely follow the opinions and sensitivities that come to the agenda.”

Stating that Turkey’s goal of being a pioneer in new technology fields continues, İleri noted that the work in these areas will continue within the scope of the “Turkey Century” vision led by President Recep Tayyip Erdoğan, saying, “Under the leadership of our President, our ambition to be a pioneer in newly developing technology fields in line with the ‘Türkiye Century’ vision will continue.”

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In a previous statement, İleri had shared details of the draft law on the taxation of crypto assets being discussed in the Planning and Budget Committee. According to this, a transaction tax of three per ten thousand is planned to be levied on the purchase, sale, and transfer of crypto assets conducted through platforms regulated by the Capital Markets Board (SPK).

It was stated that this tax would be the final tax and that no additional taxes would be applied, and that cryptocurrency transactions would also be exempt from Value Added Tax (VAT).

*This is not investment advice.

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