Cryptocurrency Regulations and Laws in Turkey
Learn about Turkey’s crypto regulations: legal to trade but banned for payments, CASP licensing under CMB, strict AML/KYC with travel rule, no individual tax yet but planned transaction levy.
Turkey has established a formal regulatory framework for digital assets, legalizing ownership and trading while strictly banning crypto payments. Since 2024, it has rolled out licensing, AML, and investor protection rules, with significant enforcement actions in 2025.
Summary
Cryptocurrencies are legal to hold and trade in Turkey, but cannot be used for payments. In 2024, Turkey enacted amendments to the Capital Markets Law (Law No. 7518), providing the legal foundation for CASP licensing. In early 2025, the Capital Markets Board (CMB) introduced two Communiqués (III‑35/B.1 & III‑35/B.2), defining comprehensive rules for crypto asset service providers. Turkey also tightened KYC/AML rules and aligned with global standards.
Legal Status
- General Use: Legal to buy, hold, and trade
- Trading: Legal; conducted through licensed CASPs
- Payments: Prohibited—crypto cannot be used as payment for goods or services
- Exchanges & Custody: Must be licensed by the Capital Markets Board and register with MASAK under AML laws
- Derivatives: Prohibited for retail under new CMB rules
- ICOs & Tokens: Allowed under CMB oversight; security tokens regulated under prospectus rules
Taxation
Turkey does not tax individual crypto profits currently. However, a transaction tax was announced in June 2024 for crypto trades. Draft regulations in 2025 propose tax-reporting requirements for CASPs.
Regulatory Bodies
- Capital Markets Board (CMB): Licenses CASPs, enforces capital requirements, operational rules, and bans on derivatives
- Financial Crimes Investigation Board (MASAK): AML regulator; enforces KYC, Travel Rule, ID checks on large transactions
- Central Bank of Turkey (CBRT): Prohibits crypto payments; defines crypto assets in regulation
Key Regulations & Laws
- 2021 CBRT Regulation: Banned crypto payments under Central Bank Regulation No. 31456
- 2024 Capital Markets Law No. 7518: Legal basis for CASP licensing under Capital Markets Law amendments
- 2025 CMB Communiqués III-35/B.1 & III-35/B.2: Detailed licensing, capital, governance, and operational rules effective June/End 2025
- 2025 AML Enhancements (Feb): Identity requirements for transactions over 15,000 TRY (~$425); Travel Rule and withdrawal limits
- 2024 Transaction Tax (planned): Crypto trades subject to transfer tax; further details pending
Timeline of Regulatory Milestones
| Year | Event | Description |
|---|---|---|
| 2021 | CBRT ban | Prohibited crypto payments nationwide |
| 2024 | Law No. 7518 enacted | Legal framework for CASP licensing |
| Mar 2025 | CMB Communiqués | Formal licensing, governance, and capital requirements issued |
| Feb 2025 | AML rules enforced | KYC, Travel Rule, and ID checks for large transfers |
| Jun 2024 | Transaction tax announced | Crypto trades to be taxed under new scheme |
Resources
- Capital Markets Board (CMB) – official communications on crypto
- MASAK – AML regulator for CASPs
- Central Bank of the Republic of Turkey (CBRT) – crypto asset regulation
- Notabene – Travel Rule guidelines in Turkey
Notes
- Travel Tip: Crypto is widely traded on licensed platforms, but cannot be used for purchases. Ensure use of CMB/MASAK-approved services.
- Local Adoption Trends: Turkey ranks fourth globally in crypto trading volume, with ~20% adult ownership. Major enforcement actions in 2025 include blanket blocking of DeFi platforms.
- Language Notes: Regulatory texts are in Turkish; some summaries are available in English.