Denying Tax Claims in Cryptocurrency Law

For a long time in Turkey, preparing for crypto money investors bill we are talking. Although the explanations made so far have revealed the framework of the law, we do not have clear information about the articles that will be included in the law. This situation is relevant countless claims. has been on the agenda.

One of the claims made about the crypto money law is aimed at investors. it was about taxes. Especially recently, it was said that around 40 percent tax would be applied to crypto money investors. The fact that this rate was so high that it drove investors away caused reactions in various media. However, the latest explanations show that this claim does not reflect reality it reveals.

“40 percent tax is intended to make the investor uneasy”

Milliyet reached out to government resources working on cryptocurrency law. Sources making statements on the subject say that the 40 percent tax claim does not reflect reality they expressed. “Claims as if the state will impose 40% tax, rhetoric to unsettle the investor. No tax specially. But if there is a transaction volume in the middle, the situation will be the same in the same way as other transactions are taxed.Sources using the expressions “reassured the investor a little bit”.

One of the issues that worries crypto money investors in our country is ban claims. The sources who also spoke about this issue stated that such a thing would not happen. Statement by government sources on the matter is as follows:Here there will be no ban. While the size of the crypto money market was 400 million dollars before the pandemic, it has now exceeded 2 trillion and Turkey ranks 5th in the world in terms of transaction volume. People no longer want to deal with intermediary institutions, they want to do all their transactions this way. Therefore, we need to implement this regulation as soon as possible. Crypto money will carry Turkey to a very different and assertive position in the world.“