Turkey vs Vatican City
Crypto regulation comparison
Turkey
Vatican City
Legal
No Regulation
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.
Vatican City has no cryptocurrency regulation. The micro-state's financial system is focused on the Holy See's financial activities. ASIF provides financial oversight.
Tax Type
None
Tax Type
None
Tax Rate
0% (legislation pending)
Tax Rate
N/A
Exchanges
Yes
Exchanges
No
Mining
Yes
Mining
No
Regulator
CMB (Capital Markets Board), CBRT (Central Bank), MASAK
Regulator
ASIF (Supervisory and Financial Information Authority)
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
- No specific cryptocurrency legislation
- ASIF provides financial oversight for the Holy See
- Micro-state with very limited financial market
- No crypto exchanges or services
- AML/CFT framework aligned with international standards