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Obligations of Crypto Asset Service Providers Regarding the Prevention of Financial Crimes
Certain mandatory obligations have been introduced under international and domestic legislation for specific commercial and professional organizations, particularly financial institutions, to prevent financial crimes such as money laundering and the financing of terrorism; and the authority and duty to regulate and supervise this field in Türkiye has been granted to the Financial Crimes Investigation Board (MASAK or FCIB). In this context, the Law on Prevention of Laundering Proceeds of Crime No. 5549 (Law), the Regulation on Measures Regarding Prevention of Laundering Proceeds of Crime and Financing of Terrorism (Regulation on Measures) and the obligations referred to in the relevant legislation...
Kripto Varlık Hizmet Sağlayıcılar’ın Mali Suçların Önlenmesine İlişkin Yükümlülükleri
Para aklama ve terörizmin finansmanı gibi mali suçların önlenmesi amacıyla, uluslararası ve yerel mevzuatta, finansal kuruluşlar başta olmak üzere belirli ticari ve mesleki kuruluşlarca uyulması zorunlu birtakım yükümlülükler getirilmiş ve Türkiye’de bu alandaki düzenleme ve denetleme görev ve yetkisi Mali Suçları Araştırma Kurulu’na (MASAK) verilmiştir. Bu kapsamda 5549 sayılı Suç Gelirlerinin Aklanmasının Önlenmesi Hakkında Kanun (Kanun), Suç Gelirlerinin Aklanmasının ve Terörün Finansmanının Önlenmesine Dair Tedbirler Hakkında Yönetmelik (Tedbirler Yönetmeliği) ve ilgili mevzuatta anılan yükümlülüklere uyum sorumluluğu bulunan ve yükümlü sıfatını taşıyan kuruluşlar belirlenmiştir. Kripto Varlık Hizmet Sağlayıcılar (KVHS) da Kanun ve Tedbirler Yönetmeliği uyarınca yükümlü sıfatını taşıyan kuruluşlar arasında sayılmıştır....
Resolutions from CMB on Banks’ Cross-Border Order Transmission Activities and Foreign ETFs
Capital Markets Board’s recent resolutions have amended the principles governing (i) deposit and participation banks’ intermediation to transmission of orders to institutions residing abroad and (ii) trading of foreign exchange traded funds. Resolution of the Capital Markets Board (the “Board”) dated 17 June 2026 and numbered 37/1118 (the “Resolution”) was published in the Board Bulletin dated 17 June 2026 and numbered 2026/39. The Resolution has amended (i) the Guide on Investment Services and Activities and Investment Institutions with Principle Decision No. i-SPK.37.9 and (ii) Principle Decision dated 27 February 2015 and numbered 5/263 on foreign exchange traded funds (“ETF(s)”). In...
Major Step from Türkiye in Transition to a Global Service Hub
On 4 June 2026, Law No. 7582 Amending Certain Laws introduced the concept of “Qualified Service Center” into Turkish law, with the aim of increasing Türkiye’s export of qualified services and promoting the establishment of group service centers in Türkiye serving affiliated companies located abroad. Foreign Direct Investments Law No. 4875, Corporate Tax Law No. 5520, and the Income Tax Law No. 193, among others, were amended by Law No. 7582 Amending Certain Laws published in the Official Gazette dated 4 June 2026 and numbered 33270 (“Amendment Law”). a. Definition of Qualified Service Center Pursuant to Additional Article 1 of...
Resolution on Biometric Data Processing in Employee Monitoring
Personal Data Protection Authority of Türkiye has published a principle decision and an announcement regarding the processing of biometric data by employers as part of monitoring employees’ attendance and time tracking; highlighting the principle of proportionality and advising alternate methods to employers. Principle decision of the Personal Data Protection Board (the “Board”) dated 29 April 2026 and numbered 2026/921 (the “Resolution”) regarding the processing of biometric data for time and attendance tracking purposes, was published in the Official Gazette dated 2 June 2026 and numbered 33268. Board has also published an announcement on the same date summarizing the Resolution. Board...