A recent post from the official Turkish Grand National Assembly (TBMM) social media account has sparked concerns among cryptocurrency investors, after it appeared to show a draft of the proposed cryptocurrency tax law circulating online. The post, shared on March 31 with the note “approved by the committee,” triggered fears that the early draft would be sent to the General Assembly without substantial revisions. However, MP Sadullah Kısacık has denied these concerns, seeking to reassure the public.
Key figure refutes committee approval rumors
Sadullah Kısacık, a member of the TBMM’s Planning and Budget Commission—one of the most authoritative voices regarding the legislative process—clarified that the commission has yet to discuss the cryptocurrency tax bill. In a recent message, Kısacık explained that the new draft has not even reached committee members. This development should ease the anxieties of investors who had grown increasingly worried about the possibility of a hefty, up to 40 percent, capital gains tax on global cryptocurrency exchange earnings.
Official statements and the spread of misinformation
Taking to his social media account, Kısacık addressed the confusion:
“The version of the crypto assets tax proposal circulating on social media is its original draft. The government has withdrawn the relevant articles from the proposal and these provisions have not been deliberated in the TBMM. As commission members, we have not received any new draft.” — Sadullah Kısacık
The draft shared on social media included details indicating that a 0.03 percent transaction tax would be imposed solely on sales and transfers, which led investors to believe that the section on a “tax on purchases” had been removed and that only minor amendments had been made. The official post from the TBMM account further fueled speculation.
Kısacık, aiming to reassure anxious investors, emphasized that no new draft has passed through the commission, underscoring his own role within the body.
“Misinformation is circulating. I am a member of the Planning and Budget Commission. No discussion has taken place in the commission.” — Sadullah Kısacık
Despite the rumors and uncertainty swirling online, there is currently no new or updated cryptocurrency tax law that has cleared the committee stage. The process of drafting, reviewing, and passing such legislation is ongoing and remains in the early stages.
The episode highlights the challenges posed by misinformation spreading rapidly through social media, especially on topics as sensitive and consequential as financial legislation affecting a large and active investor base.
As it stands, both individual investors and industry stakeholders will need to exercise patience as lawmakers continue deliberations. For now, there is no immediate change to the tax framework governing cryptocurrencies in Turkey.
