Turkey is planning to increase the tax on cryptocurrency income.

The ruling AKP party has submitted a bill to parliament on the taxation of crypto assets.

Regulated platforms will be required to withhold 10% of clients' earnings quarterly – regardless of whether it is an individual or a company, a resident or not. The president will have the authority to change the rate from 0% to 20% depending on the type of token, holding period, and wallet type.

For providers – a separate tax of 0.03% of the transaction amount.