Milestones

BiLira (TRYB) was launched in June 2019, marking the emergence of the first prominent stablecoin pegged to the Turkish Lira and establishing the TRY stablecoin category.

The Central Bank of the Republic of Turkey (CBRT) issued a regulation banning the use of all crypto-assets, including stablecoins, for the direct or indirect payment of goods and services.

Law No. 7518 was published, amending the Capital Markets Law to formally establish a regulatory framework for crypto assets and crypto asset service providers (CASPs) in Turkey.

The Capital Markets Board (SPK) of Turkey published communiqués detailing the specific licensing requirements and operational regime for Crypto Asset Service Providers (CASPs).