The Turkish government hopes to review the new cryptocurrency bill, which excludes the 40% tax, and establish a central financial institution to eliminate the risk of competitors.

Cryptocurrency laws are expected to be approved by the Turkish parliament, excluding the 40% tax on cryptocurrencies, a senior government official said. The legal process before the details, security and investigation of the cryptocurrency exchange is due to be submitted to the Turkish Parliament next week. The second important framework is to create a financially viable environment for the development of the blockchain industry. "This does not include the 40% tax," said Mustafa Elitas, head of the Justice and Reform Commission (AKP). The upcoming legislation aims to regulate the central cryptocurrency system, prevent misconduct, protect investors, and resolve complaints. Congress has the final say on the proposed law. The government wants to create a medium-sized financial institution to eliminate the risks of competitors. (in cryptocurrency)