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Crypto and NFTs meet regulation as Turkey takes on the digital future

CryptocurrencyJan 23, 2022 01:40PM ET
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In her monthly Expert Take column, Selva Ozelli, an international tax attorney and CPA, covers the intersection between emerging technologies and sustainability, and provides the latest developments around taxes, AML/CFT regulations and legal issues affecting crypto and blockchain.

Turkey — the cradle of civilization — is quietly digitizing despite its high-inflation economy, and the lira’s volatility might be correlated with the prices of Bitcoin (BTC) and Ether (ETH). During the fourth quarter of 2021, the TRY/USD exchange rate crashed from 9 to 18.5 liras per dollar in the six weeks leading up to mid-December before strengthening to as high as 10 liras and then falling back to 13.87 liras at the time of writing, rendering the currency a highly volatile asset.

Selva Ozelli, Esq., CPA, is an international tax attorney and certified public accountant who frequently writes about tax, legal and accounting issues for Tax Notes, Bloomberg BNA, other publications and the OECD.

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Crypto and NFTs meet regulation as Turkey takes on the digital future
 

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Comments (1)
Aris Deltona
Aris Deltona Jan 23, 2022 2:12PM ET
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Turkey is the cradle of civilization....???
Vv Pp
Vv Pp Jan 23, 2022 2:12PM ET
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🤦‍♀️
 
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