Yes, purchasing cryptocurrency is legal in Turkey, but subject to stringent regulatory oversight. The Central Bank of the Republic of Turkey (CBRT) and the Capital Markets Board (CMB) impose strict anti-money laundering (AML) and counter-terrorism financing (CTF) measures, including mandatory KYC/AML verification for exchanges. While crypto trading is permitted, the CBRT banned the use of crypto for payments in 2021, restricting transactions to investment purposes only. The 2026 Digital Asset Law draft further tightens compliance, requiring licensed platforms to segregate client funds and report suspicious activities to the Financial Crimes Investigation Board (MASAK).
Key Regulations for Buying Crypto in Turkey
- Payment Prohibition: The CBRT’s 2021 regulation explicitly bans the use of crypto assets as a payment method, limiting transactions to speculative investment.
- Licensing Requirements: Crypto exchanges must obtain a license from the CMB, which mandates strict AML/KYC protocols and periodic audits.
- Tax Obligations: Profits from crypto trading are subject to capital gains tax (10–35%), with MASAK enforcing reporting thresholds for transactions exceeding ₺10,000.