Turkey Proposes 10% Crypto Tax Amid Economic Strains

The Turkish government has proposed a draft bill to impose a 10% tax on income and gains from cryptocurrency transactions. The proposal would amend existing expenditure tax law to include digital assets, requiring platforms subject to capital gains tax in Turkey to withhold 10% of user gains on a quarterly basis.

The bill also allows the country's president to adjust the crypto tax rate between 0% and 20%. Service providers would face a 0.03% transaction tax on each transaction they facilitate, according to state-run Anadolu Agency.

Turkey ranked first in the Middle East and North Africa for crypto transaction volumes in Chainalysis' October report, with $200 billion in on-chain activity between July 2024 and June 2025. The firm attributed the volume to economic conditions, noting that challenging financial circumstances have pushed many residents toward crypto as an alternative investment vehicle.

Chainalysis noted that high transaction volumes may reflect speculative behavior as much as sustainable adoption, given the country's recent peak inflation of 85% in October 2022 and subsequent decline to approximately 30% in January 2026.