Turkey Introduces Regulation of Crypto Assets

16.05.2024 Turkey's ruling Justice and Development Party plans to submit to parliament a bill on the control of transactions with crypto assets and regulation of this sphere in general.
Cryptocurrencies will be placed under the supervision of the Capital Market Council, and transactions will be taxed.

This bill will make the entire cryptosphere in the country accountable and regulated. In addition to the introduction of taxes on the purchase and sale of crypto assets, rules for licensing trading platforms, exchanges and brokers, and relations between clients and these platforms will also be developed. Regulations on fines, sanctions and dispute resolution will be developed.
The Capital Market Council will be responsible for issuing permits in the areas of development, application and sale of blockchain and similar technologies.
It is assumed that the bill will also define provisions on the involvement of the Turkish Council for Scientific and Technological Research in these processes. Thus, in fact, at the state level, an incentive will be given to the development of software and other tools for blockchain in the country.


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