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Turkey vs Trinidad and Tobago

Crypto regulation comparison

← Back to map | Turkey | Trinidad and Tobago
Turkey

Turkey

Trinidad and Tobago

Trinidad and Tobago

Legal
Restricted

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.

Trinidad and Tobago's crypto sector is largely unregulated. The Central Bank, TTSEC, and FIU jointly warned in 2019 that crypto providers are neither regulated nor supervised. A 2025 Virtual Assets Bill proposes banning crypto transactions until December 2027 with fines up to M TTD. Most banks block crypto purchases.

Tax Type None
Tax Type Unclear
Tax Rate 0% (legislation pending)
Tax Rate N/A
Exchanges Yes Yes
Exchanges No No
Mining Yes Yes
Mining Yes Yes
Regulator CMB (Capital Markets Board), CBRT (Central Bank), MASAK
Regulator Central Bank of Trinidad and Tobago (CBTT), TTSEC
Stablecoin Rules Under development; CBRT banned crypto for payments
Stablecoin Rules No stablecoin regulation
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)
Key Points
  • Joint 2019 advisory: crypto providers neither regulated nor supervised
  • Virtual Assets Bill 2025 proposes ban on crypto transactions until December 2027
  • Most commercial banks block crypto-related transactions
  • Proposed fines up to M TTD for unauthorized virtual asset activities
  • TTSEC designated as primary regulator under proposed legislation
Sources
Sources