According to the news made by NTV, the opinion of not levying taxes from individual investors is dominant and the steps to protect small investors will be emphasized. In addition, local cryptocurrency exchanges will also impose a capital requirement.
Cryptocurrency exchanges capital 1 billion TL It is stated that there are opinions that it should not be below, but after the market research, a full decision will be made regarding the lower limit to be given.
With the regulation, it will be mandatory for these companies to become “financial institutions” and to reveal their rates, incomes and profits in a transparent manner like banks.
It is expected that one of the important articles of the law proposal is to establish a system infrastructure based in Turkey, since foreign exchanges operating in Turkey (such as Binance TR, FTX TR) are not subject to any rules in Turkey and are outside the control of MASAK.
It is thought that there should be a structure similar to the banking regulation for the protection of people who invest in cryptocurrencies.
Even if local exchanges state that 97 percent of their assets are under protection, it is also envisaged to introduce a regulation on how to store cryptocurrencies.
WILL CRYPTO MONEY BE TAXED?
The opinion of not levying taxes from individual investors predominates. After the crypto money regulation studies that the AK Party started on December 24, local crypto money exchanges increased almost 2 times.
For this reason, it is stated that in line with the information given to President Recep Tayyip Erdoğan, the President also ordered this regulation to be issued in a week or two.