Ruling party sources deny plans to impose a 40% tax on Turkey’s crypto gains – Regulate Bitcoin News

Members of the ruling AKP party told local media that the Turkish government does not intend to impose a 40% tax on crypto-related gains as reported. They also emphasized that current regulatory efforts are aimed at creating a sustainable environment for the blockchain industry.

Turkey establishes a regulatory foundation for the cryptocurrency market

A legislative proposal aimed at regulating Turkish cryptocurrency trade is likely to be submit Submit it to Parliament in the next few weeks. According to Turkish newspaper Hürriyet, sources from the country’s ruling political power Justice and Development Party (AKP) “strongly deny” allegations that the Ankara authorities will tax cryptocurrency proceeds at a 40% tax rate.

Mustafa Elitaş, a representative of the Justice and Development Party and deputy leader of the party’s parliamentary organization, commented on social media last month that the new law will help regulate Turkey’s encryption system , At the same time “prevent malicious behavior, protect investors and eliminate dissatisfaction”, as he puts it. He said that the media also mentioned drafts drafted by other agencies, but emphasized that the legislature will have the final decision.

On December 29, Elitaş organized a meeting in the Ankara Parliament with 13 representatives of the cryptocurrency platform operating in Turkey. Officials from the Ministry of Finance and the Ministry of Finance, the Banking Supervision and Supervision Agency (BDDK), the Financial Crime Investigation Commission (MASAK) and the Central Bank of Turkey also attended the meeting. Participants expressed support for the adoption of a regulatory framework that allows further revisions to reflect changes in space.

AKP checks encryption regulations in the U.K. and U.S.

According to a report in another major Turkish daily newspaper Milliyet, senior members of the Justice and Development Party have been reviewing current regulations in the United Kingdom, the United States and Japan this week. Hürriyet quoted political party officials who chose to remain anonymous as saying that achieving the transparency, security and auditability of encrypted exchange platforms will be the top priority of Turkey’s own regulations. They added that the next key goal is to establish a suitable financial environment to adapt to the growing blockchain industry.

The publication pointed out that there are currently more than 30 crypto trading platforms operating in Turkey, and the country’s crypto asset market ranks among the world’s top five, with nearly 5 million user accounts. Binance, the largest exchange, has a daily trading volume of approximately US$320 million.Last month, Massa fine Binance’s Turkish platform BN Teknoloji was fined 8 million lire (over 750,000 USD at the time) for violations determined during the liability inspection.

In May 2021, Cook A set of guidelines has been issued for crypto service providers, requiring digital asset exchanges to authenticate their customers and report suspicious transactions, including large-value transactions. The agency can impose fines on platforms that fail to perform their duties and even sue their owners.

These rules were adopted after two Turkish cryptocurrency exchanges, Taxi and Bitcoin, Suddenly stopped trading, causing losses to thousands of investors, and became the target of anti-fraud investigations. In October, another platform, Jin Zuo, Also closed down.The popularity of cryptocurrency trading and investment in Turkey has increased significantly amid rising inflation Lira, but encrypted payment is prohibit Provided by the Central Bank of Turkey.

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AKP, encryption, Cryptocurrency exchange, Crypto transaction, Crypto transaction, Cryptocurrency, Cryptocurrency, comminicate, collection, Cook, Party, Regulation, Regulation, ruling party, taxi, tax rate, tax, Trading platform, Turkey, Turkey

What kind of regulations do you want Turkey to adopt? Share your thoughts on this topic in the comments section below.

Lubomir Tasef

Lubomir Tassev is a tech-savvy journalist from Eastern Europe. He likes Hitchens’ famous quote: “Being a writer is my nature, not what I do.” In addition to encryption, blockchain and financial technology, international politics and economics Are the other two sources of inspiration.

Image Source: Shutterstock, Pixabay, Wikimedia Commons

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