How to crypto 101: Turkey

In recent years, Turkey has shown growing interest in digital money. People are using cryptocurrency more, and the government has taken notice. While cryptocurrency is not yet seen as official money, it is not ignored either. Rules are slowly being made to control how people and companies use it. Turkey wants to stay safe but also open to new ideas. This mix shapes the future of Turkey crypto regulation in a fast-changing world.

How Turkey sees digital assets and blockchain innovation

The Turkish government has been watching the growth of digital coins for many years. People in Turkey started using digital assets over ten years ago. Since then, interest has only grown stronger. For a long time, Turkey had no clear regulations for cryptocurrency. Still, it was clear that some kind of Turkey crypto regulation was needed. The government worked on early drafts for many years. These drafts were not official, but they showed that change was coming. In 2024, Turkey finally passed its first real cryptocurrency law. This marked a turning point in Turkey crypto law, as the state took steps to give crypto legal status and oversight.

On July 2, 2024, the Grand National Assembly of Turkey passed Law No. 7518. This law was printed in the Official Gazette and became official. It is the first formal step in Turkey crypto law.

The new law changes the older Capital Markets Law No. 6362. It adds crypto assets and crypto asset service providers to the legal system, including new categories for firms and platforms.

The law is a clear signal that Turkey wants to shape the future of crypto within its borders. It aims to control risk, improve trust, and support growth in the Turkish blockchain ecosystem. This also reflects a more mature stage in Turkey crypto regulation, where clear definitions and responsibilities are finally in place.

One key part of the law is its clear definitions. These are important for any new Turkey crypto regulation. The law explains what terms like wallet, platform, and crypto asset mean. A wallet is any system - hardware or software - that stores cryptocurrency or the keys needed to access it. A crypto asset is something that exists only in digital form. It can represent value or ownership. It must use blockchain or another digital system. A platform is a place where people buy, sell, and store cryptocurrency. The law also covers crypto custody in Turkey. It sets rules for how service providers must store other people’s digital coins safely, providing protection and control.

The law also defines who can offer crypto services. These groups are called crypto asset service providers, or CASPs. They must be approved by the Capital Markets Board, known as the CMB. CASPs cannot operate without CMB approval. The CMB Turkey crypto oversight powers are strong. It can decide who can run a platform, what capital is needed, and what tech systems must be in place. The CMB can also step in when rules are broken. This gives the government more control over how cryptocurrency grows in the country. Turkey crypto law gives CMB a central role in shaping the rules and standards for the entire digital space. These actions highlight how Turkey crypto regulation is shifting from a reactive stance to a structured legal framework, setting stronger rules and expectations.

This is a big moment for Turkey crypto law. For years, the country operated without clear legal tools. Now, the state has power to create balance. It wants to protect users while allowing smart growth.

This is especially important as crypto markets change fast. Turkish CMB cryptocurrency guidelines now provide a starting point. More rules will come later. The law is only the first step.

But it shows that Turkey blockchain regulation is entering a new, serious phase. The law is aimed at regulating both platforms and operations, ensuring better results for all involved.

People and companies must now follow real rules. The Turkish SEC crypto rules bring cryptocurrency into the legal world. This should help build trust in digital assets. It also sends a message to the global market. Country is ready to be part of the future of finance. The new law may not answer every question, but it creates a strong base. It also shows that cryptocurrency in Turkey is no longer ignored. Instead, it is something to guide, manage, and grow - making it more sustainable for investors, businesses, and others. With clear requirements now in place, exchanges are also operating under tighter control, and frameworks are being shaped for the trading of digital assets. All this is done with regard to public trust and market growth, with the CMB introducing updates as needed in regards to market dynamics and emerging sectors. Having such oversight marks a major step forward for Turkey’s digital economy.

Legal boundaries for crypto activities and services

With the recent law in place, Turkey has started to define how crypto services should work. The Capital Markets Board, also known as the CMB, now holds power to control and guide these services. It sets the rules that platforms and service providers must follow. These rules are part of the growing structure of Turkey crypto regulation. Every business that wants to offer payments or other services in the country must now follow clear steps to get licensed and approved. Without this approval, they are not allowed to operate.

The law also brought in new rules about who can start and run a crypto platform. Founders, managers, and shareholders must meet certain conditions. These people must show that they are trustworthy and have the skills needed to run a safe and legal business. The CMB must approve their plans, capitals, and technical systems. This is meant to help prevent bad actors from joining the market. It is part of how Turkey crypto law works to protect users and keep the market clean. The new Turkey crypto law also empowers the CMB to monitor ownership structures and make sure platforms remain stable and well-managed, additionally improving oversight.

Another key player is TÜBİTAK, a science and tech body in Turkey. TÜBİTAK has the job of checking if a platform’s systems are secure and strong enough. They also give expert reports and advice to help guide cryptocurrency businesses. This shows how deep Turkey crypto regulation now goes - it touches not only laws and money, but also technology and safety. With new decisions like Principal Decision No. 42/1259 and No. 1484, the Turkish government keeps improving the rules, placing greater emphasis on ensuring system strength and securing digital environments.

These rules support better cryptocurrency compliance in Turkey and help shape a system that is safe, open, and ready for growth. The new legal environment is requiring companies to follow comprehensive standards, some of which are similar to the MICA framework in the EU. Rules are now relating to how wallets are managed, who is responsible for transfers, and how platforms handle crypto assets. The CMB is also focused on establishing trust and measures that protect users in the industry. Some of these actions might affect how platforms handle secondary trading or the issuing of new tokens in the future.

Tax implications for crypto income and trades

Taxes in Turkey must follow the law, as stated in the Constitution. No one can be taxed without a clear legal rule. Right now, there is no special tax rule made just for digital coins. That means there is no full tax regime for crypto assets in country. People who buy or sell crypto on platforms are not taxed directly. The current Turkey crypto law does not say anything about taxes for users. However, platforms must pay a yearly fee. This fee is one percent of their total revenue.

The money goes to both the CMB and TÜBİTAK. The goal is to support blockchain growth in Turkey. Even without a direct tax law, Turkey crypto regulation now includes financial duties for platforms, applying pressure to be more transparent and responsible.

The idea of taxing crypto has been discussed in the Turkish Parliament. Some lawmakers think Turkey crypto regulation should include tax rules. During recent meetings, some raised concerns about the lack of a tax plan. As cryptocurrency grows more popular, new tax legislations may be added. Future updates could change how crypto gains are treated. The meaning of a digital asset will matter a lot for this. Any new Turkey crypto law on taxes will need to focus on defining who pays and how. This may involve creating clear terms and implementing guidelines for platforms and users alike.

Until such changes happen, Turkey crypto regulation on taxation remains incomplete and open to debate. The CMB offers oversight, and TÜBİTAK supports technical security and research. The yearly fee now supports both institutions in enhancing the system. The current structure's increasing focus on regulation may eventually lead to new bills with more specific information for every company involved in the digital space.

Compliance rules and identity checks for crypto providers

To stop criminal activity in the digital world, the country applies strong rules on identity checks. These rules are part of a wider system to prevent money laundering and the financing of terrorism. The main law behind this effort is Law No. 5549, which was passed to fight crime by tracking money more clearly.

The Financial Crimes Investigation Board, known as MASAK, is the agency in charge. It checks whether crypto platforms follow the rules. If a platform breaks the law, MASAK can investigate and issue fines. These actions are part of Turkey crypto regulation that now includes digital assets and their service providers, addressing risks in the financial landscape.

In 2021, the government made a major change to how these rules apply. A new law said that digital platforms are now officially seen as “obliged parties”. This means they have a duty to check and verify all users. Platforms must make sure they know who their customers are. They need to review activity and report anything suspicious to the authorities. These steps form the base of KYC and AML checks in the country. They also support Turkey FATF compliance, which aligns Turkish rules with global standards. Turkey crypto regulation now treats verification as a legal necessity. Turkey crypto law now makes this kind of verification a legal requirement, not just best practice, by imposing obligations and provisions that platforms must follow.

Under current Turkey crypto law, these checks are not optional. Every platform must follow them if it wants to operate legally. The goal is to make sure that cryptocurrency does not become a tool for crime. That is why cryptocurrency compliance now starts with strong user verification.

These changes show how Turkey crypto regulation is growing stronger. It now includes real tools to track risky activity and keep users safe, while also allowing for better protection of user rights.

As the market expands, such rules will likely become even more stricter, possibly involving clearer bans on anonymous use or actions that the state prohibits outright. Turkey’s regulatory adoption also follows international trends and lists key actions for platforms to carry out. This effort is part of a wider plan to integrate digital currency systems into legal and compliant investments infrastructure.