Crypto Analysis

Denying 40 percent tax claim on cryptocurrencies

Turkey continues to discuss cryptocurrency regulation. In the past days, the claims that a tax of up to 40 percent will be imposed on cryptocurrencies have worried investors. These allegations were denied by AK Party sources.

According to the news of Ayşegül Kahvecioğlu from Milliyet, unnamed sources, regarding the taxation of crypto money, “Allegations as if the state will impose 40% tax are statements aimed at disturbing the investor. No special tax. But if there is a transaction volume in the middle, the situation will be the same as other transactions are taxed.”

The news also stated that the AK Party has accelerated the work that will bring a legal framework to crypto money; It was noted that the regulations made by the UK, Japan and the USA in this area were examined. According to the report, a legal framework with two legs will be created for crypto money. The first of these two pillars will be to make local exchanges transparent, secure and auditable and to protect the users who trade there by the state, and the second will be to prepare the financial ground suitable for the nature of these transactions.

“There will be no bans here. While the size of the crypto money market was 400 million dollars before the pandemic, it has now exceeded 2 trillion and Turkey ranks 5th in the world in terms of transaction volume. People no longer want to deal with intermediary institutions, they want to do all their transactions this way. Therefore, we need to implement this regulation as soon as possible. Cryptocurrency will carry Turkey to a very different and assertive position in the world.”

What is known about the crypto money bill and taxation, what was discussed at the crypto money meeting in the Parliament? On our Youtube channel:

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