[Turkey's Ruling Party Proposes 10% Crypto Income Tax and 0.03% Service Provider Transaction Tax] According to Foresight News, citing Reuters, Turkey's ruling Justice and Development Party (AK Party) submitted a draft law to parliament on Monday, proposing a tax on cryptocurrency income and a transaction fee for crypto asset service providers. The draft stipulates that platforms must withhold 10% of the profits and gains from cryptocurrency transactions as a quarterly withholding tax, while profits from crypto asset transactions conducted outside authorized platforms must be declared and taxed annually. Additionally, the proposal requires crypto asset service providers to pay a 0.03% transaction tax on sales and transfer transactions they execute or facilitate. A report by blockchain research firm Chainalysis shows that, driven by high inflation and the depreciation of the lira, Turkey ranks among the top countries globally in cryptocurrency adoption, with annual transaction volumes reaching nearly $200 billion by 2025.