Akademik Veri Yönetim Sistemi
Cyberspace 2024, Brno, Çek Cumhuriyeti, 29 - 30 Kasım 2024, ss.14
Evaluations on the Recent Amendments to the Turkish Capital Markets Code Regarding Crypto Assets
On 2 July 2024, some amendments were introduced to the Turkish Capital Markets Code, resulting in the regulation of crypto assets for the first time within the framework of Turkish legislation. The enactment of these regulations was significantly influenced by the fact that nearly one out of every eight Turkish citizens engages in transactions involving crypto assets. Consequently, amendments to the Capital Markets Code were deemed necessary to provide legal protection to investors seeking to evaluate their investments in these assets. The initial amendment introduces definitions for wallet, crypto asset, crypto asset service provider, crypto asset custody service, and platform. According to the newly provisions, obtaining authorization from the Capital Market Board is mandatory for the establishment and operation of crypto asset service providers. These providers shall exclusively perform activities as determined by the Board. Contracts between crypto asset service providers and customers seeking to trade may be executed in writing or remotely via communication tools, or by alternative methods sanctioned by the Board. These methods may substitute the written form, regardless of distance, provided they are conducted through an information or electronic communication device that enables verification of the identity of customer. This study aims to provide information on these amendments and conduct an evaluation of their implications.