Legal framework enhances confidence in crypto sector, experts tell Anadolu

ANKARA

Türkiye’s Bitcoin regulations offer optimism for investors in 2025, with the cryptocurrency ecosystem becoming more reliable due to the changes introduced this year.

The crypto market, especially Bitcoin, had an eventful year, setting a record by surpassing $100,000.

Last year, Türkiye established its first legal framework for the cryptocurrency sector, sparking growing interest in digital currencies.

Salim Karaman, CEO of Turkish crypto exchange platform BtcTurk, told Anadolu that the approval of spot Bitcoin exchange-traded funds (ETFs) in the US this year was a landmark development for the industry. The move encouraged many hesitant investors to enter the market, but Karaman noted that Türkiye’s crypto regulations remain too new to evaluate fully, as secondary regulations are still in progress. Nonetheless, the current approach taken by Turkish lawmakers has captured investor attention.

“The spread of tokenization projects to different sectors accelerated digitalization in the sector and we hope that user confidence will increase as regulations strengthen and they will create a healthier competitive environment,” he added.

Kutluhan Akcin, Türkiye country manager at cryptocurrency exchange Bybit, shared with Anadolu that Bitcoin’s record-breaking performance and the growing interest from Turkish investors have kept the local crypto market vibrant this year. With uncertainties surrounding the legal framework beginning to fade, Türkiye is offering a safer space for both individuals and institutions to invest in cryptocurrencies.

Akcin also highlighted that Türkiye’s Capital Markets Board (SPK) has established a crypto asset service provider list, which sets a standard for identifying reliable and legal platforms for crypto investments.

“With high interest in the crypto market, Türkiye’s regulations to protect investors’ rights instill confidence and strengthened the country’s position as a regional crypto center, paving the way for more confidence in the future, as a wider user base starts to show interest in the crypto market,” he said.

Positive momentum in market

Ali Eselioglu, CEO of trading platform CoinTR, told Anadolu that global efforts to establish a regulatory framework for crypto assets, combined with the US approval, have created positive momentum in the market. This, in turn, has contributed to the rise in trading volumes and customer bases for exchange platforms.

Eselioglu emphasized that Türkiye’s regulatory framework has made the country’s crypto ecosystem more organized and trustworthy, with secondary regulations expected soon.

Mehmet Camir, chairman of crypto exchange OKX Türkiye, told Anadolu that the approval of Bitcoin ETFs in the US has attracted more interest from wealthy investors, pension funds, and corporate treasuries. He called 2024 the “year of adoption” for crypto.

Camir added that Türkiye stands out as the largest crypto market in the Middle East and North Africa, with a transaction volume of $2.5 billion since OKX launched its platform in Türkiye on Feb. 27. He also noted that the new legal framework has had a positive impact on the ecosystem both in Türkiye and globally.

“This framework will make significant difference in increasing trust, paving the way for institutional investments, and boosting Türkiye’s global competitiveness,” he concluded.