Turkey publishes draft law on cryptocurrency taxation, defining crypto assets as intangible, introducing a 10% withholding tax, using FIFO method for cost basis, allowing loss offsets, and exempting individual investors from separate returns. Platforms are responsible for withholding.

The draft law on cryptocurrency taxation in Turkey defines crypto assets, introduces 10% withholding tax on authorized platforms, FIFO method for cost basis, and allows the President to adjust rates. Individual investors are exempt from separate filing, while commercial income is taxed normally.

Turkey published a draft law on crypto asset taxation, defining crypto assets, introducing a 10% withholding tax on transactions via authorized platforms, capital gains tax, and FIFO method. Platforms are responsible for reporting.

Turkey has published a draft law on taxing cryptocurrencies, defining crypto assets as intangibles and introducing a 10% withholding tax on platform transactions. Tax base uses FIFO method, losses can offset. President can adjust tax rate. Analysis suggests it will boost compliance but may curb short-term trading.

A new US crypto tax guide reiterates that digital assets are treated as property, making sales, swaps, spending, and rewards potentially taxable. With Form 1099-DA rolling out for 2025 transactions, accurate cost-basis records remain crucial for compliant reporting.

The IRS continues to treat crypto as property in the US, making sales, swaps, spending and many rewards taxable. Starting with 2025 transactions, some brokers will report digital asset proceeds to the IRS via Form 1099-DA.