BTC $64,762.00 (-3.94%)
ETH $1,864.07 (-4.05%)
XRP $1.37 (-1.52%)
BNB $598.68 (-2.08%)
SOL $78.94 (-5.11%)
TRX $0.28 (-2.71%)
DOGE $0.09 (-1.46%)
BCH $527.79 (-7.29%)
ADA $0.26 (-2.05%)
LEO $8.08 (-1.27%)
HYPE $26.35 (-8.55%)
CC $0.16 (-1.71%)
LINK $8.30 (-3.87%)
XMR $312.08 (-3.39%)
XLM $0.15 (-2.58%)
RAIN $0.01 (-2.53%)
HBAR $0.10 (-2.21%)
ZEC $241.30 (-0.73%)
LTC $51.69 (-3.10%)
AVAX $8.46 (-4.14%)

Saudi Arabia vs Turkey

Crypto regulation comparison

← Back to map | Saudi Arabia | Turkey
Saudi Arabia

Saudi Arabia

Turkey

Turkey

Restricted
Legal

Saudi Arabia has an ambiguous but generally restrictive approach to cryptocurrency. SAMA has not licensed any crypto exchanges, and financial institutions are warned against dealing in crypto. However, crypto is not explicitly banned by law, and Saudi Arabia has participated in blockchain initiatives (Project Aber with the UAE central bank). No personal income or capital gains tax exists in Saudi Arabia.

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 No No
Exchanges Yes Yes
Mining Yes Yes
Mining Yes Yes
Regulator SAMA (Saudi Arabian Monetary Authority), CMA Saudi Arabia
Regulator CMB (Capital Markets Board), CBRT (Central Bank), MASAK
Stablecoin Rules No regulation; crypto trading not authorized
Stablecoin Rules Under development; CBRT banned crypto for payments
Key Points
  • SAMA has not authorized or licensed any cryptocurrency exchanges
  • Financial institutions warned against crypto transactions
  • Crypto not explicitly banned but not regulated; exists in a legal gray area
  • No personal income or capital gains tax in Saudi Arabia
  • Saudi Arabia participated in CBDC experiments (Project Aber with UAE)
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