Turkey is nearing the final stages of introducing a cryptocurrency law, with the Finance Minister stating it would reach the parliament in January. While details are unclear, speculations range from potential bans on foreign exchanges to a liberal approach. COINTURK conducted a poll to gauge the Turkish crypto community’s perspective.
The survey asked how the crypto law should be structured, offering four options: banning local and global exchanges, banning only global exchanges, maintaining the status quo, or maintaining the status quo with added taxes.
Out of 748 respondents, 74.2% favored the current unregulated system, possibly indicating a desire to avoid taxation on cryptocurrencies. Meanwhile, 20.6% supported the current system with the addition of taxes, highlighting the importance of legal recognition and taxation for cryptocurrencies.
A minority, 3.1%, advocated for a complete ban on both local and global exchanges, while 2.1% preferred banning only global exchanges. These results reflect diverse views within the Turkish crypto community regarding regulatory measures.
The survey suggests a need for inclusive dialogue to shape a regulatory framework that accommodates the unique dynamics of Turkey’s crypto ecosystem. Engaging the community, which includes experts and enthusiasts knowledgeable about technology and market dynamics, could yield beneficial outcomes for the country and foster innovation. Considering user perspectives is vital for creating fair and effective regulations, especially in a country with an estimated 10-15 million crypto users, where a balanced approach to legislation could significantly impact the future of the national crypto landscape.