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Crypto Regulation in Turkey

Restricted

Turkey has one of the highest crypto adoption rates globally, driven by lira depreciation. The CBRT banned crypto payments in 2021. Comprehensive crypto legislation was enacted in 2024 establishing a licensing framework under CMB oversight, but restrictions on crypto as payment remain.

Region: EuropeCurrency: TRYAdoption Rank: #4Risk Score: 55/100

Tax Information

Capital Gains (Personal)
No specific crypto capital gains tax yet; expected to be introduced. General income tax rates 15-40% may apply
Capital Gains (Corporate)
25% corporate tax may apply to crypto gains
VAT on Crypto
No
Staking Tax
No specific guidance; general income tax rules may apply
Airdrop Tax
No specific guidance
Mining Tax
No specific guidance; general income tax rules apply
Summary
Turkey has not yet introduced specific crypto tax legislation, creating uncertainty. The Revenue Administration has indicated crypto may be subject to income tax. A withholding tax on crypto transactions has been discussed but not implemented. High crypto adoption is partly driven by seeking a hedge against lira inflation.

Licensing & Registration

License Required
Yes
Regulator
CMB / BDDK / MASAK (Capital Markets Board / Banking Regulation and Supervision Agency / Financial Crimes Investigation Board)
Framework
Capital Markets Law (amended 2024); CBRT Payment Services Regulation
License Types
Crypto Asset Service Provider License (CASP, under CMB), Platform Operator License
Estimated Cost (USD)
$100,000 - $500,000
Timeline
6-18 months
Ease of Licensing
Hard
Notes
Turkey enacted comprehensive crypto legislation in 2024, establishing licensing requirements for CASPs under CMB oversight. Minimum capital requirements are significant. MASAK handles AML supervision. The CBRT ban on crypto payments (April 2021) remains in effect. Existing platforms must obtain licenses within the transition period.

AML / KYC

KYC Required
Yes
Travel Rule
Yes
FATF Member
Yes
FATF Status
Partially Compliant
Suspicious Activity Reporting
Yes

Mining

Mining Legal
Yes
Status
Restricted
Electricity Cost ($/kWh)
$0.15
Renewable Energy
30%
Climate
Temperate
Infrastructure
Good
Tax on Mining Income
25% corporate tax may apply to crypto gains

DeFi, Stablecoins & NFTs

DeFi: restrictedStablecoins: general frameworkNFTs: unclearCBDC: pilot

Soken Services

Legal Opinion
Available | $5,000 - $20,000 | 14 days
Banking
Difficulty: Very Hard | Crypto-friendly banks: none listed
Min. Deposit
$10,000
Fiat Rails
SEPA, SWIFT, SEPA Instant
Card Payments
Visa, Mastercard
Licensing Support
Available | $50,000 - $200,000

Sources

CMB Turkey BDDK Turkish Official Gazette
Reviewed: 2026-03-20verified

Frequently Asked Questions

Is crypto legal in Turkey?
Cryptocurrency is currently classified as "Restricted" in Turkey. Turkey has one of the highest crypto adoption rates globally, driven by lira depreciation. The CBRT banned crypto payments in 2021. Comprehensive crypto legislation was enacted in 2024 establishing a licensing framework under CMB oversight, but restrictions on crypto as payment remain.
What is the crypto tax rate in Turkey?
In Turkey, the personal capital gains tax on crypto is No specific crypto capital gains tax yet; expected to be introduced. General income tax rates 15-40% may apply, and the corporate tax rate is 25% corporate tax may apply to crypto gains. Turkey has not yet introduced specific crypto tax legislation, creating uncertainty. The Revenue Administration has indicated crypto may be subject to income tax. A withholding tax on crypto transactions has been discussed but not implemented. High crypto adoption is partly driven by seeking a hedge against lira inflation.
Do I need a crypto license in Turkey?
Yes, a crypto license is required in Turkey. The regulator is Capital Markets Board / Banking Regulation and Supervision Agency / Financial Crimes Investigation Board under Capital Markets Law (amended 2024); CBRT Payment Services Regulation. Estimated licensing cost: $100,000 - $500,000.
Is crypto mining legal in Turkey?
Yes, crypto mining is legal in Turkey. Electricity costs approximately $0.15/kWh. Mining income is taxed at: 25% corporate tax may apply to crypto gains.
What are the AML/KYC requirements for crypto in Turkey?
Yes, crypto businesses in Turkey must comply with KYC (Know Your Customer) requirements. The FATF Travel Rule is implemented. FATF compliance status: partially_compliant.