Under the new regulations, cryptocurrency is now legally defined as an asset in Turkey and is prohibited from use as a payment method. This means that Turkey joins India, Nigeria, Algeria, and Qatar in a list of countries that fully or partially ban cryptocurrency.
Currently, crypto assets are not yet taxed, although this is soon set to change as the government is in the process of drafting laws for the purpose.
The Turkish government plan a new act, as for taxation in the matter tax will be charged on holdings above a certain amount, and capital requirements will be introduced for companies with crypto exposure.