🔴Turkey is preparing to implement cryptocurrency taxation and regulatory measures in the President's Annual Program 2024 to stabilize its crypto market, which has seen significant adoption.
Specific details of the regulations have not been disclosed. According to the Official Gazette, which published Decree Number 7739 approving the “President's Annual Program 2024,” the government intends to finalize crypto regulations next year. The document discloses several important points regarding cryptocurrencies in the “Policies and Actions” section, especially in line item 400.5 entitled “Activities and Projects to be Implemented”. This item addresses the need for regulatory adjustments regarding cryptocurrency exchanges.
Crypto adoption has surged in Turkey since 2019, with many reports indicating nearly 50 percent of Turkey's population invested in or used crypto in the past three years. The upcoming regulations will undoubtedly impact the increase in crypto users in the country and also influence the way other countries in the region approach taxation and regulation of digital assets.
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