These are positive developments

CRYPTO ASSET LAW IN TURKEY IS IN THE FINAL STAGE: WITHHOLDING TAX, TRANSACTION TAX, AND PARLIAMENT CALENDAR

#TürkiyeCrypto #ELG
The draft Crypto Asset Law, which will regulate the cryptocurrency market in Turkey, is preparing to come to the agenda of the Turkish Grand National Assembly (TBMM) before 2026. With the work conducted in coordination with the Ministry of Treasury and Finance, the Capital Markets Board (SPK) will gain the authority to license and audit crypto asset service providers. The aim is to increase investor protection through effective supervision of exchanges. This is a step that follows the SPK gaining the authority to regulate the sector with secondary regulations coming into effect in 2024–2025.

Regarding taxation, two models are being considered. The first is a very low transaction tax rate on each transaction (for example, a withholding of one-tenth of a percent); the second is withholding on profits (like 5%–10%). However, due to the difficulty of tracking profit/loss, withholding remains secondary. Taxation is planned to be at the source (withholding/transaction tax), so small investors will not have an obligation to file a tax return.

Currently, there are no direct tax provisions regarding crypto revenues in the existing law; this draft will represent a significant change in taxation.

Conclusion: With the draft law, the crypto market in Turkey will gain a stronger regulatory and tax infrastructure, investor protection will increase, and the tax system will be simplified.
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