Turkey's parliament has removed contentious provisions related to cryptocurrency taxation from a broad bill that covers various economic regulations and defense spending.
The withdrawal of the tax proposals was reached after negotiations between the parliamentary majority and opposition lawmakers. The provisions, which were part of an omnibus bill, aimed to impose a 0.3% transaction tax on sales and transfers of digital assets processed by crypto service providers in Turkey.
Additionally, the proposed legislation would have introduced taxation for crypto-related earnings, requiring intermediaries to withhold 10% on clients' capital gains quarterly. However, these provisions were met with strong criticism from opposition lawmakers and stakeholders, leading to their removal.