Turkey vs Yemen
Crypto regulation comparison
Turkey
Yemen
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.
Yemen has a restrictive environment for cryptocurrency due to ongoing conflict and fragmented governance. The Central Bank has warned against crypto use. International sanctions further restrict access.
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
Central Bank of Yemen
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
- Central Bank has warned against cryptocurrency use
- Ongoing conflict limits regulatory development
- International sanctions restrict access to crypto platforms
- No specific cryptocurrency legislation
- Very limited crypto infrastructure