BREAKING: Turkish Government Announces Another New Statement on Country’s Cryptocurrency Law

AK Party Deputy Chairman and Head of Information and Communication Technologies Ömer İleri made new statements about the new cryptocurrency law.

Forward shared his post in order to clear up some of the confusion discussed in the public about the law.

Regarding TÜBİTAK’s role in altcoin listings on cryptocurrency exchanges, İleri said the following:

“In principle, an approach has been adopted not to interfere with the crypto assets to be listed on the platforms. However, in order for the listings not to be random, platforms will be required to create a written procedure for determining the crypto assets to be traded on them. It is envisaged that the Capital Markets Board may regulate the principles and principles regarding the listing procedures. It will be determined by the CMB. “In the principles and principles, opinions of TÜBİTAK or other organizations may also be taken and technical criteria regarding the technological features of crypto assets may also be included. Therefore, an approach such as TÜBİTAK directly determining the assets to be listed is not included in the bill.”

Regarding the taxation of cryptocurrencies, İleri said the following:

The statement in the proposal, “Each year, one percent of all revenues of the platforms, excluding the interest revenues of the previous year, are paid to the Board and one percent to the TÜBİTAK budget by the end of May of the relevant year and recorded as income” relates to the payments to be made by the platforms. The bill does not include any tax regulations for end users who buy and sell through the platforms.

*This is not investment advice.

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