NFT are unique digital tokens on the blockchain. There is no special regulation in Turkish law yet.
Legal Quality
- Controversial (movable or digital asset?)
- Evaluation is being made within the scope of CMB
- Different from copyright: NFT owner is not the copyright owner (usually)
What is Included in NFT Sale
- Token (registration): NFT the buyer becomes the owner
- The work itself (image/file): generally not transferred
- Copyright: remains with the artist unless transferred separately
Tax Treatment
- No clear regulation yet
- There may be commercial activity (continuous buying and selling)
- There may be capital gain (one-time)
- VAT application controversial
Copyright Infringement
- Selling someone else's work as NFT is copyright infringement
- FSEK art.71 criminal liability
- Compensation (FSEK art.66)
Fraud Risk
- Fake NFT (not the original)
- Wash trading (selling to oneself)
- Rug pull (project is abandoned)
- TCK art.158/1-f fraud with information system
CMB Approach
CMK considers that if NFTs are "investment contracts", they will be evaluated within the scope of the Capital Markets Law, and fractional NFTs can be considered "securities".