LEGAL GLOSSARY
Crypto-asset
A crypto-asset is an intangible asset that can be created and stored electronically by means of a distributed ledger (for example, blockchain) or a similar technology, is distributed over digital networks and can represent a value or a right. The definition was added to the Capital Markets Law in 2024 by Law No. 7518. Crypto-asset service providers are subject to the permit and supervision of the Capital Markets Board; under the Central Bank’s regulation, crypto-assets cannot be used directly or indirectly in payments.
Scope
Article 3/1-bb of Capital Markets Law No. 6362 (SPKn) defines a crypto-asset; the same paragraph also defines the crypto-asset service provider (cc), the crypto-asset custody service (çç) and the platform (dd). The establishment and commencement of activity of crypto-asset service providers is subject to the permit of the Capital Markets Board (Sermaye Piyasası Kurulu, SPK) (Art. 35/B/1); operating without a permit is regulated as a criminal offense in Article 109/A. The Law does not apply to crypto-assets other than crypto-assets that provide rights specific to capital market instruments and crypto-assets traded on platforms (Art. 35/B/8). The Regulation on Not Using Crypto Assets in Payments of the Central Bank of the Republic of Türkiye (Türkiye Cumhuriyet Merkez Bankası), by contrast, prohibits the direct or indirect use of crypto-assets in payments and the provision of services for that purpose (Art. 3).
Practical significance
Disputes between platforms and customers are subject to the general provisions; a listing or a permit to operate does not mean that transactions are under a public guarantee, and crypto-assets do not benefit from investor compensation provisions (Art. 35/C/2, 4). The principle is that customer assets are held in the customer’s own wallet; crypto-assets kept at banks are not covered by deposit insurance (Art. 35/C/6). Cash and crypto-assets belonging to customers are separate from the service provider’s assets and cannot be attached, pledged or included in the bankruptcy estate for its debts (Art. 35/C/7).
Commonly confused concepts
A crypto-asset is not electronic money: electronic money is monetary value issued in exchange for deposited funds and subject to Law No. 6493, whereas the Central Bank’s regulation defines a crypto-asset as an asset that is not characterized as fiat currency, book-entry money, electronic money, a payment instrument, a security or another capital market instrument. Names such as token and coin used in practice are not separate categories in the SPKn; in characterization, what counts is not the name but whether the asset meets the definition in the Law. The Board may issue separate regulations for crypto-assets that provide rights specific to capital market instruments (Art. 35/B/6).
Sources and scope
- Legislation Information System of the Presidency of the Republic of Türkiye (T.C. Cumhurbaşkanlığı Mevzuat Bilgi Sistemi) — Capital Markets Law No. 6362 · Art. 3/1-bb, cc, çç, dd; Art. 35/B, 35/C, 109/A(accessed: September 24, 2026)
- Legislation Information System of the Presidency of the Republic of Türkiye (T.C. Cumhurbaşkanlığı Mevzuat Bilgi Sistemi) — Regulation on Not Using Crypto Assets in Payments · Art. 3, 4(accessed: September 24, 2026)
The explanation is for general information; a specific case must be assessed separately.