Preparations for placing the cryptocurrency market on a legal basis have come to an end. With the draft being worked on, it is planned to collect transaction tax on earnings exceeding a certain limit in the crypto market. The regulation is expected to come to the Parliament after the election.
Crypto assets will be defined and transaction tax will be collected. Auditability and transparency will be ensured.
Preparations for placing the cryptocurrency market on a legal basis have come to an end.
With the regulation, it is planned to collect transaction tax on profits of crypto assets exceeding a certain limit. 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.
Exchanges where transactions are carried out will become transparent
The regulation aims to make exchanges conducting cryptocurrency transactions auditable and transparent.
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 will be introduced to crypto assets
Companies in the sector will be given a certain period of time for infrastructure works.
The study determined the conditions under which crypto assets would be given legal status.
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.
Source: Trthaber / Prepared by Irem Yildiz