Crypto:
29757
Bitcoin:
$66.880
% 0.02
BTC Dominance:
%54.3
% 0.12
Market Cap:
$2.43 T
% 0.29
Fear & Greed:
73 / 100
Bitcoin:
$ 66.880
BTC Dominance:
% 54.3
Market Cap:
$2.43 T

Turkey Declares Introduction of Taxes on Cryptocurrencies

Turkey

Turkey Announces Tax Plan for Cryptocurrencies and Digital Assets in the 2024 Annual Program.


Turkey is gearing up to take significant steps concerning the taxation and regulation of cryptocurrencies. The 2024 Presidential Annual Program, prepared by the Treasury and Finance Ministry and the Presidency Strategy and Budget Directorate, features striking details and has been published in the official gazette.

You might like: More Than Half of Turkish People Are Crypto Investors

According to the program, the Treasury and Ministry of Finance, Revenue Administration, and Capital Markets Board will work to define these assets in the Turkish legal system for the taxation of “Digital virtual assets.” These related public institutions will carry out this process. They will also continue to regulate transactions of digital assets that individuals can buy, sell, and transfer.

Another important step in the program is to regulate service providers for crypto assets. The Treasury and Ministry of Finance, along with the Central Bank of the Republic of Turkey (CBRT), hold the designation as the competent authorities. This regulation aims to establish order in the industry and enhance user security.

The program for 2024 also includes the implementation of the Digital Turkish Lira, and it envisions actively introducing and promoting this digital currency. Furthermore, the program emphasizes the strengthening of the fintech and digital finance infrastructure and highlights the pivotal role of the Presidency Digital Transformation Office in this regard.


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