Being a seller in crypto P2P transactions; While it is a profitable trading activity, it is also an area that carries serious legal risks. The main risk is that the seller may unknowingly have another victim's defrauded money entering their account and subsequently face allegations of aggravated fraud participation or money laundering.
This guide covers practical steps for P2P sellers to consider in terms of preventive risk management and proof of good faith. Reminder: The article is for informational purposes only; The amount of the penalty and the outcome are at the discretion of the judge and vary depending on the case; Taking the following precautions does not guarantee results in the legal process.
The Concept of Good Faith and Its Importance in Criminal Law
In Turkish Criminal Law, the element of intent is sought in crimes of participation (TCK Article 37 et al.) and TCK Article 282 (laundering proceeds of crime). Direct intent; The perpetrator foresees and desires the outcome, and probable intent is that he foresees and risks the outcome. The claim of "good faith" before the court is the basis of the defense that this element of intent is absent.
According to the established approach of the Supreme Court, good faith must be demonstrated by concrete evidence rather than the defendant's own statement. Ignoring suspicious circumstances that "the average person could detect" may provide the basis for possible intent.
Pre-Processing Precautions
1) Only Trade on KYC Approved Exchanges
Prefer exchanges operating in Türkiye and working within the scope of crypto asset service provider regulations determined by CMB. The exchange must have verified the identity of the receiving party; P2P transactions on non-KYC platforms greatly weaken your ability to prove good faith in the future.
2) Check the Buyer's Stock Exchange History
Most exchanges show P2P buyers' past transaction count, successful completion rate, membership date, etc. Signals such as new account, little transaction history, very high rate of failed transactions are red flags.
3) Start with Low Volume
Avoid making high-amount transactions for the new buyer. Starting with a low amount and building trust reduces both the risk of fraud and the possibility of triggering a mass MASAK notification.
Precautions During Operation
4) Check Transfer Description
Attention should be paid if the description line of the incoming transfer is empty or incompatible with the information provided by the recipient. Many sellers ask the buyer to write the exchange transaction ID or username in the description; This is a powerful tool for future proofing.
5) Pay Attention to Sender Name
The recipient's name on the Stock Exchange P2P page must be the same as the sender name of the bank transfer. Wire transfers coming on behalf of a third party are a sign of serious risk; In this case, it is safest to reject the transaction and return the money.
6) Money Receiving from Multiple Sources at the Same Time
If a single recipient sends the contracted transaction amount from more than one different IBAN, this may mean that more than one victim is being defrauded. In such a case, do not confirm the transaction, be cautious.
7) If In Doubt, Reject Transaction
Missing a profit opportunity is much preferable to experiencing legal trouble. If you are in doubt, the safest way is to reject the transaction and return the money. There may be a stock market complaint; but it is an incomparably smaller price than the legal process.
Post-Processing Document Storage
We recommend that the following documents be kept for at least 5 years for each P2P transaction:
- Exchange transaction details (ID, date, time, quantity, price) — screenshot + PDF
- Intra-exchange chat history with the buyer — exchanges clear this from time to time
- Bank receipt (recipient name, IBAN, description visible)
- Blockchain hash information (transaction ID) of the crypto transfer
- Screenshot of buyer's exchange profile page (KYC status, past transaction)
Organize documents in folders in year/month/transaction-id format, not undated/mixed. Back up to Cloud (Google Drive, OneDrive, Dropbox); If your phone/device breaks down or is confiscated in the future, you can access it quickly.
Transparent Communication with the Bank
8) Inform Your Bank in Advance
If you are making high-volume and regular P2P transactions, you can inform your bank in writing that you are "engaging in crypto P2P buying and selling activities". This may reduce the risk of your account being subsequently closed for "commercial use" or your transactions being viewed as suspicious.
9) Do Not Remove Account from "Personal" Use
The individual personal account is not designed for intensive trading/investment purposes. Accounts may be closed by banks on the grounds of "concealing commercial purposes". For high volume activities, appropriate legal structure (e.g. company or KVHS permit) and not individual deposits should be considered; Since this issue has a tax, trade and capital markets legislation dimension, it should be planned with professional consultancy.
Tax and Official Declaration
How the profit/loss obtained from crypto P2P activity will be evaluated in terms of tax is still a controversial area. The special status of crypto assets in Turkish tax legislation became clear after Law No. 7518. Whether high-volume activity falls within the scope of incidental commercial gain is evaluated on a case-by-case basis; We recommend that you get support from a financial advisor.
What to Do When a Suspicious Situation Occurs
10) Involve a Lawyer Immediately
When you see an abnormal situation in your account (block, bank warning, call for testimony), consult a criminal lawyer before taking any steps on your own. The first statement largely determines the course of the file.
11) Do Not Delete Your Contact Records
Conversations in the stock market, WhatsApp/Telegram correspondence with the recipient, e-mails; They are essential evidence of your good faith. Never delete; Instead, take a time-stamped backup.
12) File a Criminal Report Yourself
If you think you are a victim, file your own criminal complaint with the Chief Public Prosecutor's Office. This will be your active proof of good faith in case you become a suspect in the future.
The Value of Preventive Behaviors Before the Judiciary
In front of the judiciary, just saying "I am in good faith" is not enough. The following concrete evidence strengthens the defense:
- Using a KYC approved exchange
- Organized, clear and traceable transaction history
- Conversation records showing that suspicious transactions were rejected
- Transparent communication with the bank — protection of correspondence
- Crypto activity not hidden in tax returns
- Immediate notification to the bank in case of suspicious incident
- You filed a criminal complaint yourself after the main victim filed a complaint
Common Misconceptions
"The stock market protects me"
The exchange provides limited protection with KYC and suspicious transaction reporting obligations. The bank is not directly responsible for any problems related to the transfer process. In most exchange terms agreements, this responsibility is left to the seller.
"If I made a small amount of transactions, it won't be a problem"
The amount alone is not decisive. When your connection to multiple victims' complaints is revealed, even small transactions can be included in the file.
"I will close my account and open a new account"
It may be difficult to open a new account due to banks' blacklists and KKB records. Moreover, the same T.R. Historical tracking can be done through all accounts opened with ID.
Conclusion
Being a Crypto P2P seller; It is a multi-layered activity, technically, legally and financially. Take preventive measures, improve document retention discipline and seek expert support immediately in case of doubt; It plays a decisive role in the management of the legal process that may be encountered. For detailed information, Legal Status of the Seller Who Received Fraudulent Money from Crypto P2P Transaction and MASAK Blockage Due to P2P Transaction - Defense Strategy You can also check out our articles.