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Oman vs Turkey

Crypto regulation comparison

← Back to map | Oman | Turkey
Oman

Oman

Turkey

Turkey

Legal
Legal

Oman has moved to regulate cryptocurrency with the Capital Market Authority issuing a Virtual Assets Regulatory Framework in 2023. VASP licensing is being implemented, and Oman has attracted crypto mining operations due to its energy resources. There is no personal income or capital gains tax in Oman.

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 None
Tax Type None
Tax Rate 0%
Tax Rate 0% (legislation pending)
Exchanges Yes Yes
Exchanges Yes Yes
Mining Yes Yes
Mining Yes Yes
Regulator CMA (Capital Market Authority of Oman), CBO (Central Bank of Oman)
Regulator CMB (Capital Markets Board), CBRT (Central Bank), MASAK
Stablecoin Rules Under development within CMSA virtual asset framework
Stablecoin Rules Under development; CBRT banned crypto for payments
Key Points
  • CMA issued the Virtual Assets Regulatory Framework in 2023
  • VASP licensing regime being implemented under CMA oversight
  • No personal income or capital gains tax in Oman
  • Oman has attracted large-scale crypto mining operations leveraging its energy sector
  • CBO has issued warnings but not banned crypto for individuals
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