Turkish authorities tighten regulation of cryptocurrencies

Turkish legislators plan to submit to the parliament projects that are designed to strengthen control over the cryptocurrency market and introduce taxation of a number of operations with digital assets. Unnamed officials in the country’s government told Bloomberg that President Recep Tayyip Erdogan’s ruling AKP party plans to submit new rules to parliament not only for national cryptocurrency exchange platforms, but also for foreign companies. Legislators’ proposals include a minimum equity cap for cryptocurrency platforms…

Thailand will cancel the payment of VAT on cryptocurrency transactions

The Government of the Kingdom of Thailand will provide exemptions for the payment of value added tax for transactions with digital assets until December 31, 2023. Thai legislators made a proposal in March, but it was approved by the authorities only on May 24. According to the royal decree, transactions with cryptocurrencies and tokens will be exempt from paying value added tax on trading floors registered by the Ministry of Finance. The main goal of…