Research Article


DOI :10.26650/annales.2024.74.0002   IUP :10.26650/annales.2024.74.0002    Full Text (PDF)

Taxation of Crypto Assets: The Example of U.S. Federal Income Tax

Muhammet DurduÜmit Süleyman Üstün

Crypto assets are one of the important milestones of digitalization. They have created paramount problems related to tax systems. The United States, which was one of the first countries where these assets became widespread, gained experience with the regulations it introduced. Observing these experiences and making inferences for similar regulations to be made in Türkiye is the main objective of this article. Judicial decisions and doctrinal studies in US law on the subject are examined, and the activities of the US Internal Revenue Service are explained. It should be said that although the United States began regulations roughly ten years ago, there is no undisputed solution for the taxation of crypto assets in the country. Still, some inferences could be made from the United States experience. One of the main results reached is that tax regulations regarding crypto assets should not impose heavy burdens and financial duties on taxpayers. It has been concluded that laying a withholding responsibility on intermediary institutions such as crypto asset exchanges or a transaction tax with a small percentage is an important tool in ensuring tax compliance. Consulting experienced crypto asset users and intermediary institutions will be a crucial step while conducting a regulatory impact analysis.


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APA

Durdu, M., & Üstün, Ü.S. (2023). Taxation of Crypto Assets: The Example of U.S. Federal Income Tax. Annales de la Faculté de Droit d’Istanbul, 0(74), 19-40. https://doi.org/10.26650/annales.2024.74.0002


AMA

Durdu M, Üstün Ü S. Taxation of Crypto Assets: The Example of U.S. Federal Income Tax. Annales de la Faculté de Droit d’Istanbul. 2023;0(74):19-40. https://doi.org/10.26650/annales.2024.74.0002


ABNT

Durdu, M.; Üstün, Ü.S. Taxation of Crypto Assets: The Example of U.S. Federal Income Tax. Annales de la Faculté de Droit d’Istanbul, [Publisher Location], v. 0, n. 74, p. 19-40, 2023.


Chicago: Author-Date Style

Durdu, Muhammet, and Ümit Süleyman Üstün. 2023. “Taxation of Crypto Assets: The Example of U.S. Federal Income Tax.” Annales de la Faculté de Droit d’Istanbul 0, no. 74: 19-40. https://doi.org/10.26650/annales.2024.74.0002


Chicago: Humanities Style

Durdu, Muhammet, and Ümit Süleyman Üstün. Taxation of Crypto Assets: The Example of U.S. Federal Income Tax.” Annales de la Faculté de Droit d’Istanbul 0, no. 74 (Dec. 2024): 19-40. https://doi.org/10.26650/annales.2024.74.0002


Harvard: Australian Style

Durdu, M & Üstün, ÜS 2023, 'Taxation of Crypto Assets: The Example of U.S. Federal Income Tax', Annales de la Faculté de Droit d’Istanbul, vol. 0, no. 74, pp. 19-40, viewed 23 Dec. 2024, https://doi.org/10.26650/annales.2024.74.0002


Harvard: Author-Date Style

Durdu, M. and Üstün, Ü.S. (2023) ‘Taxation of Crypto Assets: The Example of U.S. Federal Income Tax’, Annales de la Faculté de Droit d’Istanbul, 0(74), pp. 19-40. https://doi.org/10.26650/annales.2024.74.0002 (23 Dec. 2024).


MLA

Durdu, Muhammet, and Ümit Süleyman Üstün. Taxation of Crypto Assets: The Example of U.S. Federal Income Tax.” Annales de la Faculté de Droit d’Istanbul, vol. 0, no. 74, 2023, pp. 19-40. [Database Container], https://doi.org/10.26650/annales.2024.74.0002


Vancouver

Durdu M, Üstün ÜS. Taxation of Crypto Assets: The Example of U.S. Federal Income Tax. Annales de la Faculté de Droit d’Istanbul [Internet]. 23 Dec. 2024 [cited 23 Dec. 2024];0(74):19-40. Available from: https://doi.org/10.26650/annales.2024.74.0002 doi: 10.26650/annales.2024.74.0002


ISNAD

Durdu, Muhammet - Üstün, ÜmitSüleyman. Taxation of Crypto Assets: The Example of U.S. Federal Income Tax”. Annales de la Faculté de Droit d’Istanbul 0/74 (Dec. 2024): 19-40. https://doi.org/10.26650/annales.2024.74.0002



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Submitted28.08.2023
Accepted28.09.2023
Published Online30.11.2023

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