👉👉👉 #Turkey Exempts Crypto and Stock Gains from Taxes to Boost Investment

Turkey's Treasury and Finance Minister, Mehmet Simsek, announced that the government won't impose taxes on profits from stocks and #cryptocurrencies . This decision aims to boost investment and market growth by relieving the tax burden on these gains.

There's discussion about implementing a "very limited" transaction tax on these assets, but details remain undisclosed. Simsek emphasized the need for a balanced tax approach to maintain market dynamics. Mehmet Gerz of Ata Portfoy warned that even a small tax could lead to inefficiencies and discourage trading.

Turkey is finalizing its regulatory framework for cryptocurrencies to enhance security and align with international standards. The framework includes a licensing regime for crypto platforms overseen by the Capital Markets Board (CMB), setting operational and capital requirements for safer trading.

Industry feedback has been cautiously optimistic. Mucahit Donmez of Binance Turkey believes the regulations will improve user protection and provide clear guidelines. Turkey aims to position itself as a digital finance hub, attracting investors and businesses with clear regulations and #tax exemptions, fostering economic resilience and technological advancement.

Source - cryptoknowmics.com