Türkiye has been deliberating the cryptocurrency law for a considerable period, which has now been introduced to the Turkish Grand National Assembly. A key focus within the legislative articles has been the taxation of cryptocurrency units, a topic left ambiguous. Today, Minister of Treasury and Finance Mehmet Şimşek delivered a statement addressing this issue.

Finance Minister Mehmet Şimşek’s Declaration on Cryptocurrency Taxation

Minister of Treasury and Finance Mehmet Şimşek disclosed information today regarding the austerity measures put in place. Detailing the recent actions taken to alleviate the current account deficit and inflation, Şimşek stressed the reduction in investment allowances, urging deputies to act in accordance with these directives.

In his address, Şimşek outlined plans for examining income generated from cryptocurrency units and stock exchange transactions, indicating that taxes will be levied on these earnings. He underscored the need for regulation on cryptocurrency units, assets traded on exchanges, investment funds, among others.

• Türkiye has tabled the cryptocurrency law in the Turkish Grand National Assembly.
• Minister Şimşek unveiled strategies to mitigate the current account deficit and inflation.
• Earnings from cryptocurrency and stock exchange transactions will be subject to taxation.