Turkey’s Justice and Development Party proposed a 10% tax on cryptocurrency income and gains as part of a draft bill amending the country’s tax laws.

According to a Monday report from the state-run media Anadolu Agency, lawmakers in the Turkish Grand National Assembly proposed amending the country’s expenditure tax laws to include a 10% tax on digital assets. Under the legislation, platforms that are subject to capital gains tax in the country could be required to withhold 10% tax on gains and income derived from crypto transactions on a quarterly basis.

The proposed law would allow Turkey’s president to change the tax rate on crypto from 0% to 20%, and service providers would be subject to a 0.03% transaction tax on transactions…