Turkey

Turkey is one of the countries that has a cautious and restrictive approach to regulating crypto payments. Crypto payments are considered as digital assets and not as currencies in Turkey. Therefore, they are subject to income tax, corporate tax, VAT, and stamp duty, depending on the nature and purpose of the transaction.

Crypto payments are also subject to AML and CTF regulations, which require crypto service providers to register with the Financial Crimes Investigation Board (MASAK) and comply with due diligence, reporting, and record-keeping obligations.

However, there is a specific regulation for crypto payments in Turkey, which recognizes them as legal tender for certain purposes and under certain conditions. This regulation is based on the concept of ''crypto assets'', which are defined as intangible assets that are created virtually using distributed ledger technology or similar technology and distributed via digital networks.

The regulation of crypto assets aims to facilitate the use and acceptance of crypto payments in Turkey while ensuring legal certainty and security for both users and providers of crypto payments.