Turkey is gearing up to implement new taxes, including a 0.03% transaction tax on cryptocurrency trading, as part of a broad fiscal reform. This initiative is designed to tackle the budget deficit exacerbated by the 2023 earthquakes and signifies a new direction in regulating financial transactions. A Bloomberg report highlighted the proposed changes, noting that the cryptocurrency transaction tax could significantly bolster the economy: “The ministry is considering a 0.03% transaction tax on crypto trading, which has become popular among retail Turkish investors seeking a hedge against lira weakness and rampant inflation. The move would bring in 3.7 billion liras