Dr. Ömer İleri, Deputy Chairman of Turkey's ruling AK Party and Head of Information and Communication Technologies, has provided new details on the country's ongoing efforts to establish a legal framework for cryptocurrency assets. İleri emphasized that developing regulations for crypto and similar emerging fields is a "natural and correct process" and stated that both the party and the government closely follow public opinion and sensitivities on the matter.
The regulatory push aligns with Turkey's broader "Turkey Century" vision, championed by President Recep Tayyip Erdoğan, which aims to position the nation as a pioneer in new technology sectors. İleri confirmed that work in these areas will continue under this strategic vision.
Significantly, İleri shared specifics from a draft law currently under discussion in the Planning and Budget Committee. The proposal includes a transaction tax of 0.03% (three per ten thousand) to be levied on the purchase, sale, and transfer of crypto assets conducted through platforms regulated by Turkey's Capital Markets Board (SPK).
The official clarified that this tax would be considered the final tax on such transactions, with no additional taxes applied. Furthermore, cryptocurrency transactions would be exempt from Value Added Tax (VAT), potentially simplifying the tax burden for market participants.
