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Costa Rica vs Turkey

Crypto regulation comparison

← Back to map | Costa Rica | Turkey
Costa Rica

Costa Rica

Turkey

Turkey

No Regulation
Legal

Costa Rica has no specific cryptocurrency legislation. The Central Bank has stated crypto is not legal tender and not backed by the government, but has not prohibited its use. Some businesses accept Bitcoin, and there is a growing crypto community, particularly in tech-focused areas.

Turkey has one of the highest crypto adoption rates globally, driven by lira depreciation and high inflation. While crypto ownership is legal, the CBRT banned crypto payments in April 2021. In 2024, Turkey passed comprehensive crypto legislation under the Capital Markets Law amendment, giving the CMB authority to license and regulate crypto asset service providers. No crypto-specific tax exists yet, though legislation is under consideration. MASAK (Financial Crimes Investigation Board) oversees AML compliance.

Tax Type Unclear
Tax Type None
Tax Rate N/A
Tax Rate 0% (legislation pending)
Exchanges Yes Yes
Exchanges Yes Yes
Mining Yes Yes
Mining Yes Yes
Regulator BCCR (Banco Central de Costa Rica), SUGEF
Regulator CMB (Capital Markets Board), CBRT (Central Bank), MASAK
Stablecoin Rules No stablecoin-specific regulation
Stablecoin Rules Under development; CBRT banned crypto for payments
Key Points
  • No specific cryptocurrency legislation exists
  • BCCR does not recognize crypto as legal tender but has not banned it
  • Crypto businesses operate in a legal gray area without formal licensing
  • A Bitcoin and crypto community has emerged, especially around tech hubs
  • Tax obligations on crypto gains are unclear due to lack of specific guidance
Key Points
  • 2024 Capital Markets Law amendment gives CMB authority to license crypto platforms
  • CBRT banned the use of crypto assets for payments in April 2021
  • No crypto-specific tax currently; capital gains tax legislation under discussion
  • MASAK enforces AML/KYC requirements on crypto platforms
  • Turkey ranks among top 5 globally for crypto adoption (driven by lira depreciation)
Sources
Sources