Staking, yield farming, DeFi lending Investment activity in Turkish law; The tax + compliance framework is implemented through existing laws.
Staking
- Reward for confirming a block in a Proof-of-Stake (PoS) network.
- Turkish law: declaration in the income category — date of receipt + TL price.
- Liquid staking (Lido, Rocket Pool) — income when the token is purchased.
- Slashing risk: punitive loss income reduction (loss offset).
Yield Farming
- It comes by depositing tokens into the liquidity pool.
- Complex: LP token, IL (impermanent loss).
- Tax: comes when the reward is received; Profit/loss when LP token is corrupted.
Lending (Aave, Compound)
- Giving tokens as loans; interest income.
- Subject to income tax; real interest rate + token price increase are separate items.
- Liquidation: collateral loss damage.
MASAK compliance
- DeFi wallet personal wallet; There is no direct notification.
- KYC + STR is possible when converting to TL through the stock exchange.
- Suspicious protocol use (mixer, sanctioned) MASAK risk.
Frequently asked questions
When is the staking reward taxable?
When the reward is received (date it was deposited into the wallet + TL exchange rate). Additional profit/loss evaluation on the next sale.
Is Impermanent Loss deducted?
Yes, LP can be calculated as real loss when the position is closed. An expert report (financial advisor) is recommended.
What is the DeFi protocol in terms of contract?
Smart contract = anonymous contract; If there is no protocol team, legal liability is distributed throughout the chain. The DAO structure is not yet defined in Türkiye; The "partnership" structure is interpreted by analogy.
DeFi platform was hacked, will the loss be deducted?
Hack is in the "forced cause damage" category in the tax office. Document: forensic report + protocol post-mortem + transaction hash. 3-6 months tax office review.
I used Tornado Cash, is there a MASAK risk?
On the OFAC sanctions list (2022). Sanctioned wallet detection when trading on the Turkish stock exchange = STR. Using Mixer is not a crime, but compliance with the sanctions list is critical.
Relevant legislation
- Law No. 6493 — Payment and securities; KVHS compliance framework.
- 5549 SK — MASAK crypto reporting and compliance.
- BRSA 2021/30 — Ban on using crypto in payments.
- CMB Crypto Communiqué — Crypto issuances (in draft process).
- KVK + GVK — Crypto earnings taxation framework.