Turkey Will Not Introduce New Taxes on Stock and Cryptocurrency Trading

user avatar

by Giorgi Kostiuk

2 years ago

Made with AI

  1. Government Decision
  2. Turkey's Fight Against Inflation
  3. Cryptocurrency Market Situation in Turkey


    4. The Turkish government has decided not to introduce new taxes on profits from stock and cryptocurrency trading this year after facing criticism from investors.

    Government Decision

    Turkey's Vice President Cevdet Yilmaz said that the issue of stock taxes was removed from the agenda after being previously discussed. Treasury and Finance Minister Mehmet Simsek also hinted in June at a possible delay of the tax plans.

    Turkey's Fight Against Inflation

    Turkey is developing an economic strategy to stabilize inflation, which stands at 52%, aiming to reduce it to single digits within three years. Officials are also considering easing offshore swap regulations to prevent bets against the lira.

    Cryptocurrency Market Situation in Turkey

    Between July 2023 and June 2024, Turkey processed about $136.8 billion in cryptocurrency transactions, making it the largest market in the Middle East and North Africa region and the seventh-largest in the world. Nearly half of the population is involved in cryptocurrency activities, mainly in retail investments.

    The decision not to introduce new taxes and continue regulating the cryptocurrency sector is aimed at stabilizing the economy and attracting investors, which is particularly important given the current inflation.

Tier I

Sector: #18291

Sealed Cache Room

Resource Cache

Resource Cache

Tier I

Requires 25% Tier Progress to Claim
Meme Cache

Meme Cache

Tier I

Requires 50% Tier Progress to Claim
Equipment Cache

Equipment Cache

Tier I

Requires 75% Tier Progress to Claim

After collecting, caches will be stored in your inventory and can be opened with Keys.

Other news

Solana Ecosystem Tokens Outperform Broader Altcoin Market

chest

Recent performance benchmarks indicate that Solana ecosystem tokens are outpacing the broader altcoin market, highlighting the active internal rotation within the network.

user avatarSon Min-ho

Arbitrum Achieves $814 Million in Daily DEX Volume

chest

Arbitrum has recorded an impressive $814 million in daily decentralized exchange volume, showcasing strong activity on the Ethereum Layer2 network.

user avatarAyman Ben Youssef

Securitize Enhances Tokenization Framework for Public Equities

chest

Securitize has enhanced its framework for tokenizing public equities, contributing to the integration of traditional assets into blockchain infrastructure.

user avatarTando Nkube

Significant Surge in Dogecoin Network Activity

chest

Significant surge in Dogecoin network activity with a 35% rise in active addresses and daily transactions exceeding 12 million.

user avatarKofi Adjeman

XRP Ledger Reaches 3 Billion Transactions Milestone

chest

The XRP Ledger has achieved a remarkable milestone by crossing 3 billion cumulative transactions.

user avatarNguyen Van Long

Cardano's Blockchain Verification Infrastructure Deployed by Major Retail Group

chest

A major retail group has successfully deployed blockchain verification infrastructure built around Cardano's ecosystem, enhancing the verification of authenticity, origin, and sustainability claims within supply chains.

user avatarSatoshi Nakamura

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.