The Turkish cryptocurrency market has been at the forefront of online protests against a proposed tax bill that would impose significant fees on digital asset trades.
A prominent Turkish crypto analyst, Selçuk Ergin, sparked widespread opposition with a post on social media platform X, which accumulated 145,000 views and 3,700 likes within hours. The proposal, set to be voted on by the Turkish Grand National Assembly on March 25, would introduce a 0.03% transaction levy on all digital asset trades, as well as a 10% withholding tax on profits for users of licensed domestic exchanges, and up to 40% for those trading on foreign platforms.
The backlash has been swift and broad, with many arguing that the proposed legislation is punitive and unfairly targets those who use international exchanges. The Turkish crypto community has come together under the hashtag #kriptodavergiyehayır, or 'No to crypto tax', and are calling for a rejection of the bill.
Meanwhile, Pump.fun, a dominant Solana-based memecoin launchpad, has introduced changes to prevent 'vamping', where creators redirect fees to their own wallets after tokens gain traction. The update limits token creators to one post-launch change of their fee recipient wallet, and has been met with widespread support from the Solana ecosystem.