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Expert Comment: Is There A Lien On A Crypto Account?

Turkey is among the countries that invest in cryptocurrencies. It emerges as an investment area that especially young investors show great interest.

Investors trade from domestic crypto exchanges, as well as foreign crypto exchanges. Cryptocurrencies caught the attention of investors in Turkey crypto foreclosure it was heard that he was high. Lawyer Bilal Çoban made statements on the matter.

” THE BORROWER CAN BE TAKEN IN THE EXCHANGE OF MONEY CRYPTO DOMESTIC ”

When evaluating the foreclosure of cryptocurrencies, lawyer Bilal Çoban said: “This is a new situation. It happened at the Execution Offices in Istanbul. The important thing here is; Does the borrower have money in the crypto currency exchange or not? It is important to determine this.

According to the General Enforcement Law, it is possible to detect this on Turkish crypto money exchanges. However, there is no regulation regarding the determination of money on foreign cryptocurrency exchanges. There is also no international cooperation in this regard. For this reason, does any borrower have money or not in cryptocurrency exchanges abroad? It is very difficult to detect under current conditions.

crypto in foreign currency exchange in Turkey; Does the borrower have an investment here? Here it is possible to detect it. At the request of the creditor or creditor’s attorney to the Enforcement Office, a letter is sent to local cryptocurrency exchanges based on Article 89 of the Bankruptcy and Enforcement Act.

Based on this article, the national crypto exchanges give an answer in this regard; The answer is present or not present. Foreclosure is applied for the amount of debt owed by the debtor. All cryptocurrencies of the borrower are not excluded. For example; If there is a debt of 100 thousand lire, a lien for this amount is applied. The remaining amount is inviolable. ”

” THE MOVEMENT PROCEDURE IS APPLIED ACCORDING TO GENERAL PROVISIONS ”

Indicating how the foreclosure process will apply if crypto money increases or increases, lawyer Çoban said: “For example; a borrower has money in the bank. It can be a TL deposit account or a foreign currency deposit account. When a notice of foreclosure is sent to the bank where the debtor’s account is located, the bank examines the overseas deposit account and an equivalent TL lien is applied to the overseas deposit account there.

The process to be carried out in cryptocurrencies is the same. At the time of receiving the lien notification, a hijacking transaction must be applied against said crypto currency in TL. The attachment process is applied in accordance with the general provisions. It is a developing area and the states have no regulations yet. It is mostly unregistered. In this sense, a legal system and legislative development will be experienced. ”

FILE: WHAT SHOULD BE CONSIDERED WHEN TAKING CRYPTO MONEY?

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