cryptonews.net
The new cryptocurrency law was published in the Official Gazette of the Turkish Republic after approval by Parliament. It not only legalizes digital currencies, but also introduces strict supervision and penalties for unauthorized activities.
New cryptocurrency law in Türkiye marks a significant shift in how digital assets are perceived and managed in the country. The law was developed with the participation of the Capital Markets Board (SPK) and introduces comprehensive regulatory standards. In particular, cryptocurrencies are classified as “intangible fixed assets” in the Capital Markets Law. This classification offers a clear legal definition, increasing the legitimacy of cryptocurrencies in the Turkish financial ecosystem.
A special feature of the law is the requirement for organizations to obtain permission from the SPK to work with cryptocurrencies. Organizations are given a period of one month to apply for the necessary licenses, after which they will come under the supervision of the SPK.
The new law introduces penalties for unauthorized activities with cryptocurrency. Those involved in unlicensed operations face fines and imprisonment of three to five years.
The regulation also requires digital asset platforms to develop written listing procedures. Procedures govern the selection, initial sale or distribution, and termination of trading of assets.