Introduction

As digital asset adoption accelerates globally, Turkey has emerged as one of the most active cryptocurrency markets in Europe and the Middle East. Increased usage and trading volume, however, has also made Turkey a focal point for crypto-related crimes, ranging from fraud and illicit fund transfers to unauthorized crypto-asset service activities. Understanding Turkey’s evolving legal and regulatory environment is essential for investors, platforms, and victims seeking legal remedies.

Legal Framework for Crypto Crimes in Turkey

Crypto-assets are not classified as legal tender in Turkey; however, they are recognized as assets and are subject to financial and criminal regulations. The primary legislation governing crypto-asset markets and offenses is:

• Capital Markets Law No. 6362

• Law No. 7518 (2024 Crypto Regulation)

• Turkish Penal Code (TPC)

• Anti-Money Laundering Law (Law No. 5549)

Under Law No. 7518, crypto-asset service providers (CASPs) are now subject to licensing, supervision, and strict compliance duties. Violations lead to criminal sanctions.

Major Crypto-Related Crimes in Turkey

1. Unauthorized Crypto-Asset Services

Operating a crypto-asset exchange or wallet service without authorization is now punishable with:

• 3 to 5 years imprisonment, and

• 5,000 to 10,000 days judicial fine

(Art. 109/A of Capital Markets Law)

2. Misappropriation (Zimmet) by Crypto Service Providers

If a crypto platform or employee misappropriates client funds or digital assets:

• 8 to 14 years imprisonment

• Judicial fine up to 5,000 days

• If committed through fraud: 14 to 20 years imprisonment

3. Crypto Fraud (Dolandırıcılık)

Using digital assets or platforms to deceive investors constitutes fraud under the Turkish Penal Code, punishable by:

• Up to 10 years imprisonment depending on the severity and number of victims

4. Money Laundering via Cryptocurrency

Crypto used for concealing illicit funds falls within Law No. 5549 and TPC provisions, punishable by:

• 3 to 7 years imprisonment

• Administrative sanctions and seizure of assets

Enforcement and Investigations

Turkey has strengthened investigation capabilities through Financial Crimes Investigation Board (MASAK), which requires exchanges to:

• Conduct KYC/AML checks

• Report suspicious transactions

• Cooperate with prosecutors and law enforcement

High-profile cases like Thodex demonstrate Turkey’s assertive enforcement stance against fraudulent platforms and cross-border crypto crimes.

Victim Protection and Legal Remedies

Victims of crypto fraud in Turkey may pursue:

• Criminal complaints

• Asset freezing orders

• Cross-border cooperation via Interpol and Europol

• Civil compensation claims

Legal assistance is crucial due to technical evidence requirements and international transactions.

Conclusion

Turkey’s rapid regulatory evolution demonstrates a clear commitment to combat crypto crimes and protect investors. With strong enforcement action and new legal mechanisms, Turkey is positioning itself as a leading jurisdiction in crypto compliance—balancing innovation with investor security.

For individuals and businesses engaging in Turkey’s digital asset market, understanding legal obligations and risks is essential.