Presidential 2024 Annual Program Announced! What Explanations Are Made About Cryptocurrencies? Is Taxation Coming?

The Presidential Annual Program for 2024, prepared by the Presidency Strategic and Budget Directorate, was published in the official gazette.

While cryptocurrencies were also included in the annual program, cryptocurrencies were described as “virtual assets that can be bought, sold and transferred digitally, representing a digital value”.

The Presidential Annual Program, which included statements about many issues in the economic field, included statements about the taxation of cryptocurrencies.

In the annual program, “Legislative studies will continue for transactions made using virtual assets that can be bought, sold and transferred digitally and represent a digital value.” It was stated that these studies will be carried out by the Ministry of Treasury and Finance, Revenue Administration, Capital Markets Board and relevant public institutions and organizations.

The program, in which it was stated that digital assets will be defined in the Turkish legal system, also included explanations about the Digital Turkish Lira:

“For the taxation of digital virtual assets, studies will be completed to define these assets in the Turkish legal system.

Regulatory work will be carried out for crypto asset service providers.

Studies will be carried out to develop, put into use and disseminate the digital Turkish lira. These studies will be carried out by the CBRT and the Ministry of Treasury and Finance. The public will be informed about the Digital Turkish Lira studies. Research, testing and promotional activities will be carried out.”