On 16 April 2021, Turkey published its first regulation
regarding the use of crypto assets in payments, the Regulation
Prohibiting the Use of Crypto Assets in Payments (the
"Regulation") by the Central Bank of the
Republic of Turkey. Accordingly, crypto assets are defined as
"intangible assets created virtually by using the distributed
ledger technology, or a similar technology that is distributed
through digital networks, and are not qualified as fiat money, bank
money, electronic money, payment instrument, security, or any other
capital market instrument." Following the Regulation's
enactment, on 1 May 2021, crypto asset service providers were
included among the obliged parties within the scope of the Law on
the Prevention of Laundering of Crime Revenues (the
"Law").
