This article summarizes key tax and regulatory developments in the global crypto assets industry during the first half of Mar 2026.
On the taxation front, Turkey's ruling AK Party has introduced a bill proposing a 10% income tax on gains from regulated crypto platforms to be withheld quarterly, along with a 0.03% transaction tax on service providers. India's Central Board of Direct Taxes has expanded its financial reporting framework to include crypto assets and central bank digital currencies (CBDCs), requiring service providers and financial institutions to report transactions and holdings. Meanwhile, South Korea's National Tax Service (NTS) has begun developing an AI-powered tracking system to monitor cryptocurrency investment gains, aiming to enhance tax enforcement and detect potential evasion through large-scale transaction data analysis.
On the regulatory front, the U.S. Federal Reserve, FDIC, and OCC jointly clarified that tokenized securities should generally receive the same capital treatment as their non-tokenized forms. Meanwhile, state-level developments saw the Florida Senate pass a bill requiring stablecoin issuers to obtain a license, while the FDIC Chair explicitly stated that stablecoins would not be covered by federal deposit insurance under the proposed GENIUS Act and proposed a ban on third-party "pass-through insurance." In a separate acknowledgment, the U.S. Treasury Department recognized the legitimate privacy uses of crypto mixers when paired with compliance measures. Further strengthening oversight, the SEC and CFTC announced a Memorandum of Understanding to establish a fit-for-purpose regulatory framework for crypto assets and coordinate enforcement actions, even as the U.S. Senate voted to include a provision banning a potential Federal Reserve-issued CBDC in a housing affordability bill. Internationally, Pakistan's parliament passed the Virtual Assets Act, cementing the Pakistan Virtual Assets Regulatory Authority (PVARA) as the country's digital asset regulator with licensing and oversight powers.
Turkey's ruling AK Party has introduced a bill to formalize crypto taxation, the bill proposes a 10% tax on gains from regulated crypto platforms, withheld quarterly, with the president having the power to adjust the rate between 0% and 20%. The bill also introduces a 0.03% transaction tax on service providers facilitating crypto transactions, and requires investors trading outside licensed platforms to declare gains annually. Click here to read the original article
The India Central Board of Direct Taxes released a notification March 5 that the definition of “financial assets” subject to its financial reporting rules has been broadened to include crypto-assets, specified electronic currencies, and central bank digital currencies, or CBDCs. Service providers and financial institutions must report transactions and holdings. Banks and depositories will track accounts with greater detail. Click here to read the original article
The Korea National Tax Service (NTS) has begun preparations to build a tracking system to levy taxes on cryptocurrency investment gains. The tax agency said by systematically managing and analyzing the large volume of transaction data, it can better detect possible tax evasion, including through tax audits and by identifying the hidden income of delinquent taxpayers. Click here to read the original article
The Federal Reserve, the Federal Deposit Insurance Corporation and the Office of the Comptroller of the Currency clarify that an eligible tokenized security should generally receive the same capital treatment as the non-tokenized form of the security under the capital rule. Click here to read the original article
Pakistan’s parliament passed the Virtual Assets Act, cementing the Pakistan Virtual Assets Regulatory Authority (PVARA) as the country’s digital asset regulator. The framework gives PVARA the authority to enforce licensing requirements and oversight over digital asset service providers, according to an announcement from the regulator. Click here to read the original article
The Florida Senate approved Senate Bill 314 in a vote on 06 Mar 2026. The legislation would require stablecoin issuers operating in the state to obtain a license from the Florida Office of Financial Regulation before offering their tokens to residents. Click here to read the original article.
The United States Treasury Department acknowledged the legitimate use of mixers, which obfuscate crypto transfers to preserve user privacy. The Treasury said mixers may lawfully help shield personal, business and charitable transactions from public view when paired with safeguards such as record-keeping and other compliance measures. Click here to read the original article.
The Chair of the U.S. Federal Deposit Insurance Corporation (FDIC) explicitly stated that stablecoins would not be covered by deposit insurance under the proposed GENIUS Act. The FDIC also put forward a plan to ban "pass-through insurance" for stablecoins by third parties, meaning any attempt to indirectly obtain FDIC insurance by holding stablecoins at insured banks would be prohibited. Click here to read the original article
The Securities and Exchange Commission and the Commodity Futures Trading Commission announced that they have entered into a Memorandum of Understanding. Most of the objectives are combining supervision, product approvals and policy interpretations, plus coordinating enforcement actions and providing dual registration. The agreement also specifically listed "Providing a fit-for-purpose regulatory framework for crypto assets and other emerging technologies," as a top goal. Click here to read the original article
The US Senate voted to pass an amendment that includes a provision to ban the Federal Reserve from issuing a central bank digital currency (CBDC) into a bipartisan housing affordability bill. This amendment aims to prevent the federal government from creating and deploying a digital dollar. Click here to read the original article
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