Growing Cryptocurrency Investment in Türkiye

The number of cryptocurrency investors in Türkiye and globally is increasing day by day. It is estimated that 10 million people in Türkiye have invested in cryptocurrencies.

Updates from BinanceTR

New statements have emerged from BinanceTR, the Turkish arm of the world’s largest cryptocurrency exchange, Binance. CEO Mücahit Dönmez spoke to AA regarding the legal status of cryptocurrencies.

Inheritance of Cryptocurrencies

Dönmez addressed frequently asked questions about inheritance, confirming that cryptocurrencies are included in the estate and can be inherited by heirs. He mentioned:

> “If the deceased’s crypto assets are held by a crypto asset service provider or a custodian, heirs need to apply with necessary documents, including the inheritance certificate and death certificate.”

However, if the assets are in a cold wallet, knowing the wallet’s password is required for access.

Enforcement Proceedings

Dönmez explained that cryptocurrencies are also subject to enforcement proceedings, allowing such actions against a debtor’s cryptocurrency assets. He emphasized that the Capital Markets Law mandates that all administrative and judicial requests regarding cash and crypto assets must be managed by crypto asset service providers.

Disclaimer: This is not investment advice.