Cryptocurrency earnings may be taxed. According to the news in TRT Haber, it is planned to ensure auditability and transparency with the upcoming regulation in the cryptocurrency market. With the regulation, it is planned to collect transaction tax on profits of crypto assets exceeding a certain limit.
THE AIM IS TO PREVENT BLACK MONEY
Türkiye is on the gray list of the Financial Action Task Force. To be removed from this list, cryptocurrency regulation is required. It is aimed to prevent money laundering with crypto money. The study on the crypto sector was also brought to the agenda in the meetings held after the Economy Coordination Board.
CAPITAL REQUIREMENT IN STOCK EXCHANGES
In this context, capital requirements will be imposed on stock exchanges and collateral will be required during the establishment process. The issuance and distribution of crypto assets and the principles to be followed by traders will be determined.
ENCRYPTION IS COMING TOO
While determining the conditions under which crypto assets will be given legal status, it was stated in the study that the definition of crypto assets through a specific encryption and algorithm will be included in the bill. In addition, clear statements regarding who owns the passwords of crypto assets will be added to the law.
WHAT IS THE SITUATION IN THE WORLD?
The European Parliament had approved the decision to levy taxes the previous year. In Germany, earnings tax is applied for values over 600 euros. Sweden cuts up to 30 percent under crypto tax.
