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

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 (BTC) and Ether (ETH). During the fourth quarter of 2021, the 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.