A detailed report was prepared by the Independent Industrialists’ and Businessmen’s Association (MUSIAD) Digital Transformation Sector Board Blockchain and Metaverse Working Group on the issues that should be included in the legal regulation to be made regarding crypto assets.
MUSIAD Digital Transformation Sector Board prepared the Legal Regulation Report on Crypto Assets.
Report on Cryptocurrencies from MUSIAD
In the report of the working group, all the issues that should be included in the legal regulation are discussed with their local and international dimensions, and the existing crypto assets equivalent of the regulation in practice, currently the draft law text, proposals regarding the draft text in order to contribute to the state order and economy of crypto assets under 28 headings and to protect the investor, and technical details that should be included in the law, easy and auditable tax regulation, payment systems legislation, CMB, Banking Evaluation of the relevant parts of the Law, MASAK regulation and other laws were included.
In the report, constructive and practical solutions were offered for private wallets, foreign exchanges and taxation issues for public institutions and investors.
It is stated that a flexibility should be brought in the draft law for crypto asset trading platforms licensed from abroad, a separate regulation should be made or included in this law for crypto asset trading platforms licensed from countries with international validity, license and supervision. was done.
It was also stated that keeping the crypto asset in a private wallet as well as being able to be kept in the stock market and in the bank must be legally grounded, and that the declaration “this is my personal wallet” from the e-government is important in terms of giving legal status to private wallets.
It was noted that Taxation would be Contrary to the Spirit and Purpose of the Crypto Asset
. It was noted that it would be appropriate to levy 1% tax at the time of purchase and 2% in total.
The following statements were included in the continuation of the statement;
“The Working Report was presented to the Ministry of Treasury and Finance and was welcomed by our Ministry with interest. A consultation meeting was held by the Ministry of Treasury and Finance on the Crypto Currency Draft Bill on 26.01.2022 with the participation of Public and Private Sector representatives who are experts in their fields. The report was submitted to the Ministry of Treasury and Finance on the same date. Mustafa El Aliwat, Chairman of MUSIAD, Blokzincir and Metaverse Working Group, attended the meeting, which was organized by the Ministry of Treasury and Finance, where Fahrettin Oylum, Chairman of the Digital Transformation Sector Board, was also invited, and attended by SPK, TOBB, TBB, TÜBİSAD, TÜSİAD and many sector representatives and public institutions. and Büşra Altunay, a member of the working group.”
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