Investors in cryptocurrencies face various problems, with new challenges arising in recent years due to the lack of global regulation for these digital assets. In the United States, the Internal Revenue Service (IRS) has taken significant steps to address taxation related to cryptocurrencies, causing concern for investors in the country.

Unlike the US, Turkey has not yet implemented strict regulations regarding the taxation of cryptocurrencies. However, discussions have been held regarding the need for comprehensive studies on this matter. The lack of retroactive law application in Turkey currently poses no issues related to cryptocurrency taxation.

It is anticipated that Turkey will take necessary steps to regulate cryptocurrency taxation following the expected enactment of a draft crypto law by June. These regulations are aimed at removing Turkey from the FATF grey list and indicate that cryptocurrency taxation laws will soon be established in the country.

One of the key challenges in Turkey involves determining how cryptocurrencies will be recognized as assets and subsequently taxed. In the US, the IRS is actively pursuing tax declarations for crypto income, with an increase in the investigation of crypto tax crimes reported. Chief of Criminal Investigation at the IRS, Guy Ficco, highlighted the importance of partnerships with private companies like Chainalysis in tracking crypto transactions and uncovering tax violations.