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ARTICLE · 22 MARCH 2024

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Dilemma Of Crypto Service Providers Solved In Turkey: KYC Vs. Privacy

Ünsal Law Firm
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Turkish Personal Data Protection Board ("Board") has published a pivotal decision ("Decision" or "Decision numbered 2023/570")...

TurkeyTechnology
Burcak Unsal
Burcak Unsal
Tuğçe Bozkurt
Tuğçe Bozkurt
Yigithan Erim
Yigithan Erim

Turkish Personal Data Protection Board ("Board") has published a pivotal decision ("Decision" or "Decision numbered 2023/570") on December 28, 2023, which has a significant importance for crypto asset service providers operating in Turkey ("CASPs").

Broadly summarizing its background, a crypto exchange user complained to the Data Protection Authority ("DPA") that the crypto exchange is demanding disproportionate amount of sensitive personal data such as biometric photo, passport photo and etc to withdraw crypto currencies.

Basic level accounts of the CASP in question enable users to enjoy the deposit and withdraw Turkish Lira, as well as sell/buy or deposit cryptocurrencies within the platform. In order to withdraw cryptocurrencies, users must upgrade their account to an advanced level account by submitting a copy of their identity card (i.e. ID card, passport or driving license) along with the picture of themselves, holding their ID card and a paper

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