Central Bank of Turkey Crypto Restrictions: What You Can and Can't Do in 2025

As of 2025, you can buy, sell, and hold cryptocurrencies in Turkey - but you can’t use them to pay for your coffee, rent, or even a car. The Central Bank of Turkey (CBRT) has drawn a hard line: crypto is an investment, not a currency. This isn’t a ban on crypto itself. It’s a ban on using it like money. And that distinction changes everything for Turkish citizens and businesses trying to navigate the digital asset landscape.

Why the Payment Ban Still Stands

In April 2021, the CBRT made its first major move: banning the use of cryptocurrencies for direct payments. That rule didn’t just stick - it got stronger. By March 2025, new regulations were published in the Official Gazette, reinforcing the ban with legal teeth. Today, if you try to pay for groceries with Bitcoin, Ethereum, or any other coin, the merchant is legally required to refuse it. Same goes for real estate deals, utility bills, or online subscriptions. Even if both parties agree, the law doesn’t allow it.

This isn’t about stopping innovation. It’s about protecting the Turkish Lira. With inflation hitting over 60% in 2024, many Turks turned to crypto not to gamble, but to survive. Bitcoin and USDT became digital savings accounts. The CBRT didn’t want that escape valve to become a leak in the entire monetary system. If people started paying rent in crypto, the Lira’s value could collapse faster. So they blocked payments - but left trading wide open.

Who’s in Charge Now?

The CBRT doesn’t run crypto rules alone. The Capital Markets Board (CMB) is the main regulator. They license and monitor every crypto exchange, wallet provider, and trading platform operating in Turkey. Then there’s MASAK, the Financial Crimes Investigation Board, which tracks money laundering. And TÜBİTAK, the national science council, sets the technical standards for security and blockchain compliance.

Before March 2025, the rules were messy. Now, there are two key communiqués that define everything:

• Communiqué I (III-35/B.1) - Sets the rules for starting a crypto business in Turkey. You must be a joint-stock company. Shares must be in cash, registered under real names. No anonymous owners.
• Communiqué II (III-35/B.2) - Tells you how to run it. Minimum capital? 150 million Turkish Lira ($4.1 million) for exchanges. 500 million Lira ($13.7 million) for custodians. That’s not a suggestion. It’s a legal requirement.

Foreign companies like Binance or Coinbase can’t just set up shop and start marketing to Turks. They need local authorization. And even then, they’re not allowed to run ads targeting Turkish users unless they’re fully licensed. This has pushed many Turks to use offshore exchanges - but that’s where the risks grow.

What Happens If You Break the Rules?

The penalties aren’t light. In 2024, MASAK fined Binance TR the maximum allowed: 8 million Turkish Lira ($750,000) for failing to verify users properly and not monitoring suspicious transactions. That wasn’t a slap on the wrist. It was a warning to every crypto platform: comply or get crushed.

Now, MASAK is getting even more power. By late 2025, they’ll be able to freeze both bank accounts and crypto wallets tied to illegal activity. They’re also going after rented accounts - those fake profiles people use to hide identities. And they’re cracking down on unlicensed platforms that pretend to be “crypto brokers” or “wallet services.”

For regular users, breaking the law usually means using unregulated exchanges or trying to bypass KYC. That’s risky. If your account gets flagged, you could lose access to your funds - and there’s no legal recourse. Turkish courts won’t protect you if you’re operating outside the system.

How Turks Are Using Crypto Anyway

Despite the payment ban, Turkey is one of the top crypto markets in the world. Why? Because people aren’t using crypto to buy things. They’re using it to protect their wealth.

When the Lira loses 50% of its value in a year, Bitcoin becomes a lifeline. A 2025 survey by the Turkish Digital Asset Association found that 42% of crypto holders in Turkey use it primarily to hedge against inflation. Another 28% use it to send money abroad - bypassing strict foreign exchange controls. Only 6% use it for daily purchases.

Many Turks buy crypto on licensed exchanges like Paribu or Binance TR, then transfer it to cold wallets. Some convert it to stablecoins like USDT and hold them as digital cash equivalents. Others use peer-to-peer platforms to trade crypto for cash - a gray area, but common. The system isn’t perfect, but it works for people who need an alternative.

The Digital Lira Is Coming

While crypto is restricted, the CBRT isn’t ignoring digital money. They’re building their own version: the Digital Lira. This isn’t a cryptocurrency. It’s a central bank digital currency (CBDC) - fully backed by the state, controlled by the bank, and designed to replace cash over time.

The Digital Lira will be used for payments, savings, and even government benefits. Unlike Bitcoin, it won’t be volatile. Unlike crypto, it won’t be decentralized. It’s the government’s answer to the crypto surge: control the digital money, don’t let private coins take over.

Experts expect the Digital Lira to roll out in phases starting in 2026. First, pilot programs for public sector employees. Then, integration with mobile payment apps. Eventually, it could replace physical cash entirely. That’s why the CBRT is so strict about crypto payments - they’re laying the groundwork for their own digital currency to take center stage.

What’s Next for Crypto in Turkey?

The future isn’t about lifting the payment ban. It’s about expanding what’s allowed within the rules.

One big shift is coming: real-world asset tokenization. That means turning things like gold bars, apartments, or farmland into digital tokens on a blockchain. You won’t be able to pay for a house with Bitcoin - but you might be able to buy a fraction of a property using a tokenized asset. The CMB is already drafting rules for this. Institutional investors are watching closely.

Another area growing fast: crypto mining. Turkey’s cheap electricity and young tech workforce make it attractive for miners. While not directly regulated by the CBRT, mining operations are now being monitored for energy use and tax compliance. Some local governments are even offering incentives to bring in mining farms - as long as they don’t use the grid for illegal crypto payments.

And then there’s the question of enforcement. With millions of Turks using foreign exchanges, regulators can’t monitor everything. But they’re getting smarter. AI-powered transaction tracking, cross-border data sharing with EU regulators, and mandatory reporting from Turkish banks are all being rolled out. The goal isn’t to stop crypto. It’s to contain it - keep it as an investment, not a payment tool.

What Should You Do If You’re in Turkey?

If you’re a Turkish citizen or resident:

• Buy and hold crypto - legal and common.
• Use licensed exchanges - Binance TR, Paribu, Koinim. Avoid unregulated platforms.
• Never use crypto to pay for goods or services - it’s illegal and risky.
• Keep records - even if you’re not taxed now, the system is tracking everything.
• Watch for Digital Lira updates - it could change how you store and spend digital money.

If you’re a foreigner trying to serve Turkish customers:

• Don’t market directly - you need CMB approval.
• Don’t bypass KYC - MASAK will find you.
• Don’t assume payment bans will lift - they’re here to stay.

The message is clear: Turkey isn’t anti-crypto. It’s anti-payment. Crypto is allowed as an asset. Not as a currency. And that’s not changing anytime soon.