Turkey’s Regulation on the Disuse of Crypto Assets in Payments is a national regulation issued by the Central Bank of the Republic of Türkiye (CBRT). Published on April 16, 2021, in Official Gazette No. 31456, it took effect on April 30, 2021. It remains in force as of November 3, 2026, based on the operative text and the CBRT’s current payment-services listing. Regulation, Articles 5–6; current CBRT listing.
Scope of Turkey’s crypto payments regulation
For this regulation, crypto assets are intangible assets created using distributed-ledger or similar technology and distributed through digital networks. The definition excludes assets legally classified as fiat money, deposit money, electronic money, payment instruments, securities or other capital-market instruments. These exclusions define the regulation’s scope; they do not establish a general exemption for every asset using blockchain technology. Article 3(1).
The restriction concerns payment use. In its May 2025 judgment, the Council of State (Danıştay) expressly distinguished that restriction from a prohibition on crypto assets themselves or on buying and selling them. The regulation therefore does not itself establish a general ban on crypto ownership or trading. Danıştay judgment, Article 3 analysis.
Payment and platform-transfer restrictions
Article 3 prohibits both direct and indirect crypto payments, together with services enabling those uses. Article 4(1) bars payment service providers from developing or servicing business models that use crypto assets, directly or indirectly, in payment services or electronic-money issuance. Articles 3–4.
Article 4(2) separately prohibits payment institutions and electronic-money institutions from intermediating fund transfers to or from platforms offering crypto trading, custody, transfer or issuance. This provision names those two institutional categories. The broader term “payment service providers,” used in Article 4(1), also includes banks under Article 13 of Law No. 6493. The two provisions consequently have different institutional scopes. Article 4; Law No. 6493 as reproduced in the judgment.
Legal basis and central bank rationale
The CBRT introduced the regulation under its powers in Central Bank Law No. 1211 and payments legislation, Law No. 6493. In its April 2021 announcement, it cited price volatility, illicit-use risks, wallet theft or unauthorized use, and irreversible transactions. It also referred to the absence of supervisory mechanisms at that time and warned of losses and damage to confidence in payment instruments. Those statements describe the regulator’s rationale in 2021. CBRT announcement 2021-17.
Article 6 assigns execution to the CBRT Governor. The six-article instrument contains no standalone fine schedule, licensing route, compensation remedy or staged transition. Its single commencement date applies across the regulation; publication and entry into force are separate events. Articles 1–6.
Judicial review and later crypto regulation
On May 28, 2025, Danıştay’s Tenth Chamber dismissed an annulment challenge by majority in case E.2021/3724, K.2025/2776. The ruling upheld the challenged restrictions, while a dissent favored annulment. It permitted an appeal within 30 days after notification; the published judgment alone does not establish finality, and an appellate outcome has not been verified. Official judgment.
Separately, Turkey brought crypto-asset service providers under the Capital Markets Board (SPK) through Law No. 7518, effective July 2, 2024. SPK communiqués III-35/B.1 and III-35/B.2 took effect on March 13, 2025, addressing provider establishment and operations, custody, transfers, asset listing and capital requirements. These measures govern crypto services under the capital-markets framework. SPK announcement.
The CBRT continues to list the 2021 payment restriction separately among its applicable regulations. Read together, the official sources support treating the provider framework and the payment prohibition as concurrent regimes. Authorization to provide crypto services does not, by itself, establish permission to use crypto assets in payments. Current CBRT listing; SPK announcement.
