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Norway vs Turkey

Crypto regulation comparison

← Back to map | Norway | Turkey
Norway

Norway

Turkey

Turkey

Legal
Legal

Cryptocurrency is legal in Norway and regulated by Finanstilsynet. Norway taxes crypto capital gains at 22% and includes crypto holdings in the annual wealth tax calculation (net wealth above NOK 1.7M taxed at ~1.1%). VASPs must register with Finanstilsynet. Norway is an EEA member and aligning with MiCA through the EEA agreement.

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 Wealth and capital gains
Tax Type None
Tax Rate 22% (gains) + 1.1% (wealth)
Tax Rate 0% (legislation pending)
Exchanges Yes Yes
Exchanges Yes Yes
Mining Yes Yes
Mining Yes Yes
Regulator Finanstilsynet (Financial Supervisory Authority)
Regulator CMB (Capital Markets Board), CBRT (Central Bank), MASAK
Stablecoin Rules No specific stablecoin regulation; general financial rules apply
Stablecoin Rules Under development; CBRT banned crypto for payments
Key Points
  • Crypto capital gains taxed at 22% flat rate
  • Crypto included in wealth tax base (~1.1% on net wealth above threshold)
  • VASPs must register with Finanstilsynet and comply with AML/CFT requirements
  • Norway is a major crypto mining hub due to cheap hydroelectric power
  • EEA member; MiCA implementation expected through EEA Agreement adaptation
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