Vircon Legal advises crypto-asset issuers, layer-1 and layer-2 networks, DAOs, and digital asset infrastructure operators on token economy design, regulatory perimeter analysis, and structuring of international issuance vehicles. Our team works as on-chain native counsel for clients operating between Turkey, the U.S., the UAE, and other crypto-friendly jurisdictions.
Vircon Legal is one of the most active Turkish law firms in the digital-asset space, regularly handling SAFT, SAFE-T, token-warrant and rights-conversion structures alongside traditional equity instruments. We design tokenomics with regulatory durability in mind — minimizing the surface area for retroactive enforcement risk while preserving distribution flexibility.
Our Managing Partner, Mümtaz Hacıpaşaoğlu, advises founders, funds, and exchanges on Turkey’s emerging crypto regulation, AML/KYC frameworks, and CMB licensing pathways, and represents portfolio companies of leading international funds investing in the Turkish blockchain ecosystem.
Our ICO, Crypto Currency and Blockchain practice includes, but is not limited to, the following:
- Token issuance structuring (utility, security, governance, hybrid)
- SAFT, SAFE-T, and Token Purchase Agreement drafting and negotiation
- Tokenomics design and on-chain treasury structuring
- Cross-border SPV setup (BVI, Cayman, ADGM, Wyoming, Delaware)
- Crypto-asset service provider (CASP) compliance, including CMB licensing
- AML, KYC, and travel-rule program design for exchanges and on-ramps
- DAO formation and governance design
- NFT and digital-collectible launch advisory
- Token-warrant agreements alongside equity rounds
- Regulatory perimeter analysis for new token launches
How we help
We advise crypto-asset platforms, token issuers and Web3 companies on the full regulatory stack — incorporation, tokenomics, licensing and cross-border compliance. We design structures that survive scrutiny in the jurisdictions that matter.
- Token structuring, SAFT documentation and tokenomics review
- CASP/VASP licensing and the Turkish SPK crypto-asset regime
- AML/KYC and Travel Rule compliance programmes
- Cross-border regulatory mapping (U.S. Howey/Reves, EU MiCA, UAE/ADGM)
- Central exchange applications and platform terms
Related practice areas
This connects with our CASP / Crypto Compliance, Crowdfunding and IT Law practices.
Founder Academy resources
Free, practical checklists for this area: CASP License Checklist.
Other Practice Areas
Frequently Asked Questions
Is crypto trading legal in Türkiye?
Trading and holding crypto-assets is legal. Using crypto as a payment instrument has been prohibited since the 2021 payments regulation, and Law No. 7518 (2024) brought crypto-asset service providers under Capital Markets Board licensing and supervision.
Do token issuers need a licence?
It depends on what the token does. Tokens with security-like features fall toward the capital-markets regime; platform operators need CASP licensing; and offshore issuance does not exempt marketing into Türkiye. The characterisation analysis should precede the whitepaper, not follow it.
What does it take to operate a crypto exchange in Türkiye?
A CASP licence under Law 7518: minimum capital, fit-and-proper management, custody and segregation arrangements, listing standards, and full MASAK anti-money-laundering compliance including the travel rule. Entities operating during the transition period appear on the CMB’s published lists.