Peer to peer crypto trading in Turkey
Buying and selling crypto directly between individuals is legal in Turkey, because holding and trading crypto is lawful and a sale for lira is a trade rather than a payment. Using crypto to pay for goods and services is banned under the Central Bank regulation in force since 30 April 2021. An individual does not need a licence to trade peer to peer, but a business that runs a peer to peer marketplace for Turkish users can fall within Capital Markets Board (CMB) licensing, and bank transfers tied to crypto can be queried under MASAK anti money laundering rules.
The legal status
Buying and selling crypto directly between individuals, known as peer to peer or P2P trading, is lawful in Turkey. Holding and trading crypto is legal, and nothing in Turkish law prohibits two people from agreeing a trade of crypto for lira. The single clear prohibition is on payments: the Central Bank ban means crypto cannot be used as a means of payment for goods and services. Selling crypto to another person in exchange for lira is a trade, not a payment, so it falls on the permitted side. Using crypto to settle a bill, even to a private individual providing a service, falls on the prohibited side. This carries an as of date of June 2026.
Individuals and platforms
The licensing regime matters here in a specific way. The Capital Markets Board of Turkey (CMB) licenses crypto asset service providers under Law No. 7518, and that requirement falls on businesses that run platforms, not on an individual selling their own crypto. So a person trading P2P acts lawfully without a licence. A business that operates a P2P marketplace serving Turkish users, matching buyers and sellers, holding funds in escrow, or facilitating transfers, can itself be a crypto asset service provider and fall within CMB licensing. Many people trade P2P through the dedicated marketplaces run by larger exchanges, which brings the trade inside that platform's regulatory status and its protections.
Anti money laundering and bank scrutiny
Since 2021 crypto asset service providers have been obliged parties under Turkey's anti money laundering law and are supervised by MASAK, which requires customer identification, record keeping, and suspicious transaction reporting. A 2025 MASAK circular also introduced transfer limits and withdrawal waiting periods on licensed platforms. These duties fall on the providers, but they have a practical effect on P2P traders too, because bank transfers connected to crypto activity can be flagged or queried under the same anti money laundering expectations. Trading through a platform that performs identity checks, and keeping clear records of what each transfer was for, helps you stay on the right side of those expectations.
Tax
Turkey has not historically applied a crypto specific capital gains tax to individual investors, and occasional P2P selling has sat in the same uncertain space as other occasional disposals. Gains from trading carried on as a business can fall within ordinary income tax, generally valued in lira. The 2026 tax framework moved toward a possible transaction levy on trades through licensed platforms, which would not capture a private P2P trade in the same way, though the position is not fully settled. Keep records of each trade, its date, and its lira value, and confirm the treatment with the Revenue Administration (Gelir Idaresi Baskanligi). This is general information, not tax advice.
Risks and how to act
Peer to peer trading carries risks that a licensed order book does not. Counterparty risk is real: a buyer can reverse a payment after receiving crypto, and a seller can fail to deliver. Off platform trades have no escrow and no recourse, and bank transfers tied to crypto can be queried. None of this is investment advice. If you trade P2P, prefer an escrow based marketplace run by a licensed exchange, verify each step before releasing crypto or funds, and keep records. The exchanges genuinely available to Turkish residents, several of which run their own P2P marketplaces, are compared below.
Compare available exchanges in Turkey
See the platforms that are genuinely available to residents, with their registrations and how to sign up compliantly.
Compare available exchangesRegulator and sources
- Capital Markets Board of Turkey (CMB / SPK), spk.gov.tr, the licensing of crypto asset service providers under Law No. 7518 published in the Official Gazette on 2 July 2024 and the communiqués of 13 March 2025
- Central Bank of the Republic of Turkey (CBRT), tcmb.gov.tr, the Regulation on the Disuse of Crypto Assets in Payments, in force 30 April 2021
- Financial Crimes Investigation Board (MASAK), masak.hmb.gov.tr, anti money laundering obligations and the 2025 circular introducing transfer limits and withdrawal waiting periods for crypto asset service providers
- Revenue Administration (Gelir Idaresi Baskanligi), gib.gov.tr, income tax treatment of crypto activity
Frequently asked questions
Is peer to peer crypto trading legal in Turkey?
Yes. As of 2026 there is no law that prohibits buying and selling crypto directly between individuals in Turkey. Holding and trading crypto is legal. What is banned is using crypto as a means of payment under the Central Bank regulation in force since 30 April 2021. This is general information, not advice.
Do I need a licence to trade peer to peer in Turkey?
No. The Capital Markets Board (CMB) licensing requirement under Law No. 7518 applies to crypto asset service providers, meaning businesses that run platforms, not to an individual selling their own crypto. A business that operates a peer to peer marketplace serving Turkish users can fall within that licensing scope.
Can I use crypto to pay a person in Turkey?
Using crypto as a means of payment for goods and services is prohibited under the Central Bank regulation in force since 30 April 2021. Selling crypto to another person for lira is a trade rather than a payment, but using crypto to settle for goods or services is banned. Keep the distinction in mind.
Are peer to peer trades taxed in Turkey?
Gains from trading can fall within general income tax principles where the activity is carried on as a business, generally valued in lira. Turkey did not historically apply a crypto specific capital gains tax to individuals, and the framework changed during 2026. Confirm the position with the Revenue Administration. This is general information, not tax advice.
What are the risks of peer to peer trading in Turkey?
Peer to peer trading carries counterparty and fraud risk, including chargeback and reversed payment scams, and it lacks the protections of a licensed platform. Bank transfers tied to crypto can also be queried under anti money laundering rules. None of this is investment advice. Trade carefully, keep records, and prefer an escrow based or licensed venue.
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