Legal Business

Sponsored briefing: Closer scrutiny for tech M&As

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Turkey Nazali Tax & Legal

NAZALI’s Ayşe Ülkü Yalaz and Nilay Göker Duran on tech M&As in Turkey, the future of the practice and the new regulatory requirement which may affect ongoing and new transactions

Mergers and acquisitions in the technology sector has an increasing trend in Turkey similar with global trends. With a young and tech-savvy population, Turkey has great potential to be an important startup hotspot. With the excellent demographic dynamics, startups have the opportunity to face challenges locally and be expected when they are ready to market themselves internationally.

Legal Business

Sponsored briefing: Is Turkey’s first regulation on crypto-assets just a beginning?

Posted on |
Turkey Nazali Tax & Legal

Although it remains unclear whether cryptocurrencies will replace traditional money in the near future or ever, they have become a global phenomenon lately. Likewise, the economic turbulence in Turkey has led to a surge in swapping the local currency for cryptocurrencies despite their price volatility. According to a recent survey, Turkey has the fourth-highest rate of cryptocurrency use out of 74 countries1.

Background of Recent Developments

With the growing popularity of the crypto market in Turkey, the government’s concerns about using cryptocurrencies for illegitimate activities such as money laundering, terrorist financing, and tax evasion have gradually increased. As a response to all these matters, the signals of the legislative framework for the crypto-assets have been given under Turkey’s 11th Development Plan2. Turkey’s economic roadmap also unveils that the Central Bank of the Republic of Turkey shall foster the financial, technologic, and legal infrastructure of digital money by the end of this year3.