Critical crypto money statement from the Ministry of Treasury and Finance of the Republic of Turkey

Bitcoin (BTC) and other crypto currencies explaining that they closely follow the Republic of Turkey Ministry of Finance and Treasury, announced the execution of work on the subject.

An official statement on March 1 publisher The Ministry of Treasury and Finance of the Republic of Turkey said, “We also share the concerns about cryptocurrencies around the world.”

In the statement; It was stated that work was carried out in cooperation with the Central Bank, BRSA, CMB and related institutions.

Close follow-up to cryptocurrency

In the statement made by the Ministry of Finance and Treasury, it was emphasized that a study was carried out on cryptocurrencies. Shared via Twitter in the press release The following statements were included:

“We also share the concerns about cryptocurrencies around the world. Developments in the matter and the situation in our country are closely monitored by our Ministry. In this context, under the chairmanship of our Deputy Minister, studies are carried out in cooperation with the Central Bank, BRSA, CMB and other relevant institutions.”

Is the aim to protect the consumer or to impose taxes?

The cryptocurrency community on Twitter did not leave the statement made by the ministry unanswered. In the tweets shared, “Bitcoin tax is coming?” and “Will there be taxes on cryptocurrencies?” comments took place.

A Twitter user commented that a commission is paid to the relevant institution for every purchase and sale transaction it makes, and it would be wrong to charge the investor extra tax because the said institution pays tax to the state argued.

The statement made by the Ministry of Treasury and Finance evaluative Academician İsmail Hakkı Polat was among the names. Polat, who defended that “the primary goal is to protect consumer rights rather than tax”, wrote:

“I believe that the primary goal of this statement of the Ministry of Treasury and Finance is to protect consumer rights rather than taxes. In this context, it would be more realistic to wait for the regulations on cryptocurrency trading platforms to be announced at the first stage.”

Crypto money regulation announcement from CMB

As previously done by Cointelegraph news, the Capital Markets Board of Turkey (CMB), the crypto-currency began working to bring supervision and regulation. Studies have been initiated to inspect transactions made with cryptocurrencies, especially Bitcoin, by the CMB.

The crypto-currency interest was expressed by the citizens of Turkey Cointelegraph site. Despite the intense interest in the country, it was pointed out that there is no legal infrastructure or regulation in the cryptocurrency field.

In the 2020 plans published by the Presidency in 2019, it was stated that the tests for the blockchain-based central bank digital currency (CBDC) will begin in 2020.

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