The legal status of crypto assets in Turkey

The short answer to is crypto legal in Turkey is yes, when it comes to buying and selling; but the answer is limited when it comes to using crypto as a payment method. Contrary to the widespread belief that crypto assets are completely banned in Turkey, the rules have gradually brought different areas under regulation, especially payments, compliance and market supervision.

To understand the current picture, it is necessary to read the regulations issued by the TCMB (Turkish central bank), MASAK (Turkey’s financial crimes watchdog) and the SPK (Capital Markets Board) together. It is also important to note that draft tax rules that occasionally come up should not be treated as final unless they have been enacted into law.

The framework that began in 2021: payment ban and MASAK obligations

What did the TCMB regulation ban, and what did it not ban?

The TCMB's Regulation on the Prohibition of the Use of Crypto Assets in Payments, published in the Official Gazette No. 31456 on 16 April 2021, took effect on 30 April 2021. The rule banned the direct or indirect use of crypto assets in payments, as well as payment institutions from intermediating crypto platforms.

However, this step did not ban crypto asset trading. In other words, in Turkey, buying and selling crypto assets and using crypto assets as payment for goods or services were not placed in the same legal category.

What changed on the MASAK side?

Platforms operating as crypto asset service providers were brought under MASAK reporting obligations in 2021. This showed that the sector would be regulated not only as a technology or market issue, but also through compliance and financial oversight.

The 2024 and 2025 rules: a new era under SPK oversight

What did Law No. 7518 bring?

Law No. 7518 was published in the Official Gazette No. 32590 on 2 July 2024. With this amendment, crypto asset trading, custody, transfer and exchange services came under the SPK's rule-making and supervisory authority, creating the legal basis for the framework often referred to as a SPK crypto licence.

What conditions were set by the secondary regulations?

Two communiqués published in the Official Gazette No. 32840 on 13 March 2025 set out the requirements for establishment approval, qualifications for shareholders and executives, minimum capital and capital adequacy, information systems infrastructure, outsourcing, and internal control and risk management. Under the communiqués, the board of directors must consist of at least three members.

What this means for users and what to watch out for

Why does using a licensed platform matter?

For investors, the main point of the regulation is that platform selection should not be based only on the trading screen, but also on the company's structure. Under the SPK regime, issues such as capital structure, governance, technical infrastructure and risk management are becoming more visible.

  • Follow the platform's latest announcements regarding SPK rules
  • Read the company's disclosures on custody, transfers and customer processes
  • Accept the compliance steps required under MASAK crypto obligations as standard practice

Why should users be cautious about tax rules?

Although the tax treatment of crypto assets is widely discussed, draft proposals that have not been passed into law do not count as final legislation. For that reason, the safest approach for users and industry players is to regularly verify the latest status through the Official Gazette and SPK announcements.