The Use of Cryptocurrencies in Turkey: Evolution and Current State

Guzaerov R.I., Мелихов Г.М.

Abstract

The article is devoted to the analysis of the development of the field of cryptocurrencies in Turkey. The growing interest in cryptocurrencies in Turkey was driven by the desire of the population to preserve their assets in the face of the economic crisis. The economic situation of the Republic of Turkey is characterized by economic instability and frequent crises, as well as the devaluation of the national currency. This situation has contributed to a more active introduction of cryptocurrencies into the Turkish economy. Ankara is gradually introducing cryptocurrency into the legal field, developing legislation in this area. The legislative framework in this area is analyzed, the key institutions providing activities in the field of cryptocurrencies and their main tasks are presented. The key areas of application of cryptocurrencies are presented. It is noted that now it is too early to talk about the success of the measures taken, as they entail other possible risks. The threat of international crimes is at the forefront and forces the Turkish authorities to constantly monitor the situation and improve their own standards to combat them.

Keywords

Turkey, economic policy, cryptocurrency, crypto exchanges, listing, stock markets, economic crises, currency devaluation

DOI: 10.31249/j.2949-2408.2025.04.08

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