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Turkey's Legal Framework and Cryptocurrency: A Pivotal Moment for the Economy and Law

by aria-crypto.com

March 5, 2025 at 23:15


Turkey's Legal Framework and Cryptocurrency: A Pivotal Moment for the Economy and Law



A significant legal challenge is underway in Turkey as a local law firm, GlobalB, prepares to contest the national crypto payment ban in court on May 28 in Ankara. The case aims to revise existing regulations that allow the purchase, holding, and trading of cryptocurrencies but prohibit their use as payment methods. GlobalB plans to present the economic advantages of cryptocurrency transactions, arguing they can spur financial innovation and payment efficiencies. Founding partner Sima Baktaş believes a favorable ruling could enhance Turkey's economic landscape and establish it as a top place for blockchain businesses and investors globally. Despite recent strict Anti-Money Laundering controls, Turkey is expanding crypto services through banks and financial institutions. This ongoing integration into the financial system, along with the surge in crypto adoption among Turkish citizens, could make Turkey a frontrunner in the global digital economy.

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