Turkey's AK Party Proposes Crypto Income Tax and Service Provider Levy
Turkey’s ruling AK Party on Monday submitted a draft bill to parliament that would impose an income tax on cryptocurrency earnings and a transaction levy on crypto asset service providers. The measure is at the draft stage and must pass through parliamentary debate and votes before becoming law, but it signals a new push to formalize crypto taxation and to capture fee revenue from platforms operating in Turkey.
If enacted, the proposal could boost government receipts while raising compliance and operating costs for exchanges and other service providers, costs that may be passed on to users. Observers warn the move could push some trading offshore or dampen retail participation, affecting liquidity and remittance flows that rely on crypto. Market participants and industry groups will be watching the parliamentary process closely for details on tax rates, scope, and implementation timelines.