The Turkish law firm Globalb questions the ban on the country of cryptographic payments during a hearing scheduled for May 28, according to Sima Baktaş, founding partner of the cabinet.
Although the citizens of Turkey are authorized to buy, keep and exchange the crypto, the use of digital currency for payments has been prohibited since 2021, when the Central Bank of the Republic of Turkey has prohibited “any direct or indirect use of cryptographic assets in payment services and the issue of electronic funds”.
For the audience, which takes place in the country’s capital, Ankara, Globalb plans to use a strategy to show long -term economic benefits to authorize cryptographic payments in the country, Baktaş told Cointelegraph.
“The possibility of using the crypto for payments would accelerate financial innovation, would create more inclusive and effective payment systems and the (Turkey) position as a blockchain adoption center,” said Baktaş. “This would also attract global investments, because international companies and investors wish to operate in a regulatory environment that supports digital assets.”
Source: Sima Baktaş
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Is Turkey a cryptographic nation?
Despite the ban, Turkey has worked to become a more friendly nation of crypto in recent years. In July 2024, a regulatory framework provided cryptographic asset providers to request licenses, leading to well -known exchanges such as Bitfinex, Binance TR and OKX TR.
In December 2024, the country introduced stricter anti-flowage (LMA) regulations, requiring transactions greater than 15,000 Turkish LIRA ($ 412) was reported alongside user identification information.
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In addition, a series of Turkish banks, including Bankpozitive and Misyon Bank, have started to offer crypto services to customers in collaboration with the Swiss cryptographic platform Taurus. The government has also denied the taxation plans for cryptographic profits.
The adoption of cryptography has also increased in Türkiye over the years. A survey conducted in 2021 revealed that Turkey’s cryptographic user base has increased eleven times. A survey in 2023 has shown that the percentage of crypto users in the country had increased by 12%, and a 2024 cryptocurrency property report showed that the cryptocurrency property rate in Turkey is 19.3%.
Baktaş notes that the Globalb trial “could serve as a catalyst to shape secondary regulations in a way that promotes innovation while ensuring compliance.”
“A positive decision could also pave the way for new commercial models, especially for cryptographic platforms that are looking for licenses,” she added. “It is a chance to create a well -regulated but dynamic environment where companies can work safely while stimulating the growth of the digital economy.”
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