Crypto Enthusiasts React as Tax Authority Sends SMS Notifications – BitRss

Turkish cryptocurrency investors flocked to the Revenue Administration’s portal following unexpected SMS notifications. It is known that a taxation framework for cryptocurrencies has not yet been established in Turkey, and a previous legislative effort to create one was abandoned last year. The reason behind these SMS messages from the Revenue Administration to cryptocurrency investors raises questions.

Shock SMS for Crypto Investors

The messages from the Revenue Administration mention the detection of rental income, shocking users of local platforms like BinanceTR and BtcTurk. Investors have expressed their concerns, particularly in light of the recent downturn in the markets.

As there is no legal framework for cryptocurrency taxation, the Revenue Administration has previously indicated that it can only take action once legislation is established. Therefore, the anxiety among investors may be unfounded, as laws cannot be applied retroactively.