ISTANBUL – The governing AK Party in Turkey introduced proposed legislation on Monday that would establish taxation on profits earned from digital currency transactions and impose fees on cryptocurrency service companies.
The proposed legislation outlines that profits generated from purchasing and selling digital assets would face withholding taxes, with transactions happening outside of approved platforms requiring tax reporting through official declarations.
The draft legislation specifies that companies providing cryptocurrency services would face a 0.03% transaction fee on sales and transfer operations they either execute directly or facilitate for clients.
The parliamentary submission represents Turkey’s latest move to regulate the growing cryptocurrency market through formal taxation structures.
