Between 2024 and 2025, Türkiye has built a comprehensive regulatory infrastructure for the cryptocurrency sector. These developments align national legislation with international standards, while prioritizing investor protection and financial transparency. The new framework marks a turning point in shaping Türkiye’s digital asset economy for both local and international investors.
Fundamental Regulatory Framework
Enactment of the Crypto Law
The Law No. 7518, officially titled the Amendment to the Capital Markets Law, was published in the Official Gazette and entered into force on 2 July 2024. This law represents Türkiye’s first comprehensive legal framework for crypto assets. It introduces definitions for key terms such as “crypto asset,” “crypto asset trading platform,” and “crypto asset service providers.”
From an international standpoint, this legislation aligns Türkiye with global standards, including the European Union’s Markets in Crypto-Assets Regulation (MiCA) and the Digital Operational Resilience Act (DORA), showing Türkiye’s commitment to compliance with international norms.
The Regulatory Role of the Capital Markets Board (SPK)
The Capital Markets Board of Türkiye (SPK) has been granted extensive authority over the regulation and supervision of crypto asset service providers. Its responsibilities include licensing, operational monitoring, and ensuring compliance with investor protection measures.
While the SPK oversees crypto assets functioning similarly to capital market instruments, other institutions retain jurisdiction in their respective areas. The Central Bank of the Republic of Türkiye has authority over crypto assets used as electronic money, while the Ministry of Trade regulates crypto assets related to goods and service access.
Service Providers and Business Operations
Licensing Requirements
All crypto asset service providers operating in Türkiye must obtain authorization from the SPK. Platforms that were active prior to the law’s effective date were required to apply for licensing within the prescribed timeframe. Those failing to do so are considered to be operating without a permit.
Foreign-based providers serving Türkiye-resident clients were required to cease such activities within three months following the enactment of the law. Continuing operations beyond this period has been classified as unauthorized crypto asset service activity.
Communiqués and Technical Standards
On 13 March 2025, the SPK issued two detailed communiqués: “Communiqué No. III-35/B.1 on the Establishment and Operational Principles of Crypto Asset Service Providers” and “Communiqué No. III-35/B.2 on Operational Procedures and Capital Adequacy.” These documents define the operational structures required for authorized platforms, covering aspects such as customer asset protection, governance standards, and management qualifications.
Anti-Money Laundering and Transfer Regulations
New Compliance Obligations (Since 25 February 2025)
The regulations published on 25 December 2024 and effective from 25 February 2025 introduced specific compliance obligations to prevent money laundering and terrorist financing. Article 24/A added to the “Regulation on Measures for Prevention of Laundering Proceeds of Crime and Financing of Terrorism” directly covers crypto asset transactions.
One of the most significant updates concerns crypto transfers exceeding 15,000 TL. For these transfers, the sender’s identifiable information—such as name, trade registry title, wallet address, reference number, nationality or tax ID, or passport number—must be included in the transaction message and verified by the service provider. Recipient details must also be included but do not require verification.
MASAK Standards
The Financial Crimes Investigation Board (MASAK) has updated its framework, classifying crypto asset service providers as direct obliged parties under anti-money laundering laws. Since February 2025, large-scale e-commerce intermediary service providers have also been brought under these compliance requirements.
Restrictions on ATM and Similar Devices
Crypto ATMs and similar electronic devices allowing users to convert crypto assets to cash or vice versa were mandated to cease operations within three months of the law’s enactment. Devices that continued operation after this period were closed by relevant authorities, and such activities were deemed unauthorized crypto asset services.
Market Landscape and Global Context
The year 2024 was marked by increased volatility and growth in the global crypto market, with Bitcoin surpassing USD 100,000. Türkiye’s legislative efforts helped shape a more transparent and secure domestic environment, leading to renewed investor interest throughout 2025.
Türkiye’s synchronized approach—developing its framework alongside the EU’s MiCA—highlights the country’s goal of building an internationally compatible regulatory ecosystem that supports innovation while ensuring financial integrity.
Key Takeaways for International Entrepreneurs
Investors and business founders considering crypto operations in Türkiye should note the following critical requirements:
- obtaining an SPK license before commencing any crypto-related business activity
- implementing customer identification and anti-money laundering mechanisms that meet MASAK standards
- ensuring compliance with capital adequacy and corporate governance regulations outlined in SPK communiqués
- aligning business models with evolving international frameworks such as MiCA and DORA
- seeking expert advice on taxation, as Türkiye’s crypto tax regime remains under development
Türkiye’s 2024–2025 crypto regulations represent a significant step toward building a well-regulated, innovation-friendly, and internationally aligned market. For entrepreneurs, understanding and adapting to this framework will be crucial for participating in one of the most dynamic digital economies in the region.