BREAKING NEWS: Details of the Bitcoin and Altcoin Bill in Our Country Have Been Announced!

Will there be taxation on the crypto market?

Cryptocurrency investors were wondering about the details of the crypto asset law in our country. Recently, AK Party Group Chairman Abdullah Güler announced the details of this law at the press conference held in the Turkish Grand National Assembly.

Explaining that crypto providers operating without permission will be sentenced to 3-5 years in prison, Abdullah Güler said the following about the 19-article crypto asset law proposal:

“We present this proposal to pave the way for crypto assets in our country.

Crypto asset platforms will start providing services by obtaining a license from the CMB.

Individuals and companies operating without permission will be sentenced to 3-5 years in prison.

Currently operating crypto exchanges must obtain a license within 1 month to continue their activities.

In addition, exchanges that provide crypto asset services abroad will no longer be able to provide services in our country.

“It is planned that the assets that will be newly listed on crypto platforms will receive an approval from TÜBİTAK.”

Touching on the issue of taxation in response to the question, Güler said the following on the subject:

Friends, there is currently no taxation in our offer. "A total revenue of 2% is envisaged as a service fee, with 1% for CMB and 1% for TÜBİTAK as it will make a digital evaluation."