The Rise Of Cryptocurrencies – An Overview

Blockchain technology has the potential to become as important as the Internet and its effects could be revolutionary. Conversely, cryptocurrencies are seen as disruptive by many market players. While the number of holders of cryptocurrencies has been increasing, the growth of this new field has resulted in numerous questions and much debate.

Cryptocurrencies were introduced to the Turkish market on July 20 2013 under Law on Payment and Security Settlement Systems, Payment Services and Electronic Money 6493. According to Article 1 of the law, its aims include "regulating the procedures and principles of payment and security settlement systems, payment services, payment institutions and electronic money institutions".