The Turkish government intends to introduce a law to impose greater control over the cryptocurrency market.
According to Arabiya Net, a tax is likely to be imposed on some transactions involving digital assets.
President Recep Tayyip Erdogan's ruling Justice and Development Party (AKP) is expected to submit bills to parliament in the coming weeks that outline new rules, two Turkish officials said. for local cryptocurrency exchanges, according to Bloomberg.
Among the proposals is a requirement that the minimum capital of licensed companies not be less than 100 million liras ($6 million), and the new rules will require global cryptocurrency platforms to open Branch offices can be taxed in Turkey, according to officials.
While the government has not made a decision on how to tax individuals, they said, it is leaning toward imposing a token tax on cryptocurrency purchases. Turkish authorities are also studying ways to safely deposit cryptocurrencies, possibly within the banking sector infrastructure, to prevent abuse.
