This jurisdiction has evolving or restrictive regulations that require careful compliance. Additional licensing, reporting, or operational constraints may apply.
Turkey Cryptocurrency Regulatory Overview
Turkey banned the use of cryptocurrencies for payments in April 2021 but allows trading and ownership. High inflation has driven significant crypto adoption despite restrictions. The Capital Markets Board oversees crypto exchanges, requiring licensing and compliance. The regulatory environment is restrictive regarding payments but permits trading through licensed platforms. Turkey has expressed interest in developing a digital lira CBDC. The situation is characterized by high adoption, payment restrictions, and evolving regulatory oversight. Economic instability and regulatory changes create uncertainty.
Turkey Blockchain Compliance Requirements
Legal Status: Legal for trading/ownership; banned for payments (2021). Payments: Crypto cannot be used for goods/services. Licensing: CMB oversight; exchange licensing required. Adoption: High due to inflation and lira depreciation. Taxation: Capital gains tax on crypto profits. CBDC: Digital lira under development. AML/CFT: Requirements for licensed exchanges. Banking: Limited bank participation. Risk Level: Moderate; payment restrictions and regulatory changes. Economic Context: High inflation driving crypto use.
Crypto Licensing Requirements in Turkey
A formal licensing regime is mandatory for all Crypto Asset Service Providers (CASPs), including exchanges and custody services, to operate in Turkey. These CASPs must obtain an operating permit and license from the Turkish Capital Markets Board (CMB/SPK).
Cryptocurrency Tax Treatment in Turkey
Cryptocurrency is treated as an intangible asset and is subject to capital gains tax on profits exceeding an annual tax-exempt threshold (e.g., 18,000 TRY for 2025).
Official Sources & Regulatory References
https://cmb.gov.tr/, https://cms-lawnow.com/en/ealerts/2025/03/tuerkiye-introduces-new-crypto-asset-regulations-a-landmark-development-in-digital-finance, https://practiceguides.chambers.com/practice-guides/blockchain-2025/turkey/trends-and-developments, https://www.gate.com/post/status/14073066, https://notabene.id/world/turkey
AML/CFT requirements may be stringent or evolving. Enhanced due diligence may be required.
Enforcement actions may be unpredictable or strict. Monitor regulatory developments closely.
Disclaimer: This information is provided for general guidance only and should not be considered legal advice. Regulations change frequently. Always consult with qualified legal professionals in the relevant jurisdiction before making business decisions.