The Communiqué on Commercial Electronic Message Management System Integrators (“Communiqué”) regulates the procedures and principles regarding the recording of commercial electronic message approval and rejection information in the Message Management System (“IYS”), the realization of these transactions through the IYS through integrators or by service providers, the authorization of integrators and the revocation of their...

Among the four major secondary regulations related to crypto assets published in the Official Gazette on March 13, 2025, is the Communiqué Amending the Communiqué on Independent Audit of Information Systems (III-62.2) (“Communiqué”), issued by the Capital Markets Board and consisting of 5 articles. The Communiqué will enter into force on June 30, 2025. The...

The Communiqué on Amendments to the Communiqué on Information Systems of Payment and Electronic Money Institutions and Data Sharing Services of Payment Service Providers in the Field of Payment Services (“Communiqué”) was published on 28.03.2025 and entered into force. The Communiqué amended the Regulation on Payment Services, Issuance of Electronic Money and Payment Service Providers...

The Regulation on Amendments to the Regulation on Payment Services and Electronic Money Issuance and Payment Service Providers (“Regulation”) was published and entered into force on 28.03.2025. Payment service providers who have payment accounts that may be related to payment services and provide direct online access to their customers for the payment accounts they hold...

Communiqué No. 2025-32/74 (“Communiqué No. 2025-32/74”) and Communiqué No. 2025-32/75 (“Communiqué No. 2025-32/75”) amending Communiqué No. 2008-32/34 (“Communiqué No. 2008-32/34”) on Decree No. 32 on the Protection of the Value of the Turkish Currency entered into force after being published in the Official Gazette on 28.03.2024. With the Communiqué No. 2025-32/74, the phrase “gold, silver...

The “Law Amending the Capital Markets Law No. 7518” amending various articles of the Capital Markets Law No. 6362 (“Law”) entered into force after being published in the Official Gazette dated 02.07.2024 and numbered 32590. With the said regulation, crypto asset service providers are subject to the regulation and supervision of the Capital Markets Board...

Among four significant secondary regulations regarding crypto assets published in the Official Gazette on March 13, 2025, the Communiqué on the Establishment and Operating Principles of Crypto Asset Service Providers (III-35/B.1) (“Communiqué”) issued by the Capital Markets Board (“Board”) stands out with its 57 articles. Key regulations in the Communiqué can be summarized as follows:...

The Banks Association of Türkiye(“TBB”) published the December 2024-Turkey Financial Sector Payment Systems Report (“Report”) on 07.03.2025 on the TBB website. The Report contains comprehensive data on payment systems in Türkiye and the number and amounts of transactions made with payment instruments. In addition, non-branch channel-based data and selected items related to the nature of...

An amendment was made to the Export Circular by the Ministry of Treasury and Finance with a letter dated January 3, 2022 and put into practice with Additional Article 1, regarding the sale of export proceeds to the Central Bank of the Republic of Turkey (“TCMB”) within the scope of the Ministry’s letter dated February...

The Ministry of Treasury and Finance (Revenue Administration) has abolished the practice of cash VAT refunds for deliveries subject to a discounted rate within the year within the framework of the authority granted to it by the Value Added Tax Law. The regulation regarding the subject was made in the VAT Implementation General Communiqué No....