{"id":73944,"date":"2025-07-25T16:56:46","date_gmt":"2025-07-25T07:56:46","guid":{"rendered":"https:\/\/monolith.law\/tr\/?p=73944"},"modified":"2025-08-11T13:16:48","modified_gmt":"2025-08-11T04:16:48","slug":"crypto-assets-securities","status":"publish","type":"post","link":"https:\/\/monolith.law\/tr\/it\/crypto-assets-securities","title":{"rendered":"\u30102025 Y\u0131l\u0131 G\u00fcncel Versiyonu\u3011Kripto Varl\u0131klar\u0131n (Sanal Para Birimleri) Hukuki Yorumu: Menkul K\u0131ymetlerle \u0130lgili Uygunluk ve \u0130\u015fletmelerin Dikkat Etmesi Gereken Hususlar"},"content":{"rendered":"\n<p>Kripto varl\u0131klar (sanal para birimleri), \u00e7e\u015fitlilikleri, kullan\u0131m ve i\u015flem y\u00f6ntemlerinin evrimi nedeniyle, hukuki yorumlar\u0131 s\u00fcrekli de\u011fi\u015fmektedir. \u00d6zellikle, &#8220;kripto varl\u0131klar\u0131n menkul k\u0131ymetlere dahil olup olmad\u0131\u011f\u0131&#8221; sorunu \u00f6nemli bir ilgi oda\u011f\u0131d\u0131r.<\/p>\n\n\n\n<p>Bu nedenle, bu makalede, kripto varl\u0131k i\u015flemleri yapan i\u015fletmeleri hedef alarak, kripto varl\u0131klar\u0131n hukuki yorumunu ve \u00f6zellikle menkul k\u0131ymetlerle olan ili\u015fkisini a\u00e7\u0131kl\u0131yoruz.<\/p>\n\n\n\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_53 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<span class=\"ez-toc-title-toggle\"><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/monolith.law\/tr\/it\/crypto-assets-securities\/#Geleneksel_Gorusler_ve_Yeni_Akimlar_Kripto_Varliklar_Sanal_Para_Birimleri_Hakkinda\" title=\"Geleneksel G\u00f6r\u00fc\u015fler ve Yeni Ak\u0131mlar Kripto Varl\u0131klar (Sanal Para Birimleri) Hakk\u0131nda\">Geleneksel G\u00f6r\u00fc\u015fler ve Yeni Ak\u0131mlar Kripto Varl\u0131klar (Sanal Para Birimleri) Hakk\u0131nda<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/monolith.law\/tr\/it\/crypto-assets-securities\/#Ethereum%E2%80%99un_Konsensus_Algoritmasi_Degisikligi_ve_Japon_Menkul_Kiymetler_Tartismasi\" title=\"Ethereum&#8217;un Konsens\u00fcs Algoritmas\u0131 De\u011fi\u015fikli\u011fi ve Japon Menkul K\u0131ymetler Tart\u0131\u015fmas\u0131\">Ethereum&#8217;un Konsens\u00fcs Algoritmas\u0131 De\u011fi\u015fikli\u011fi ve Japon Menkul K\u0131ymetler Tart\u0131\u015fmas\u0131<\/a><ul class='ez-toc-list-level-3'><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/monolith.law\/tr\/it\/crypto-assets-securities\/#Konsensus_Algoritmasi_Nedir\" title=\"Konsens\u00fcs Algoritmas\u0131 Nedir?\">Konsens\u00fcs Algoritmas\u0131 Nedir?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/monolith.law\/tr\/it\/crypto-assets-securities\/#Ethereum%E2%80%99un_Konsensus_Algoritmasi_Degisikligi\" title=\"Ethereum&#8217;un Konsens\u00fcs Algoritmas\u0131 De\u011fi\u015fikli\u011fi\">Ethereum&#8217;un Konsens\u00fcs Algoritmas\u0131 De\u011fi\u015fikli\u011fi<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/monolith.law\/tr\/it\/crypto-assets-securities\/#Amerikan_Otoritelerinin_Kripto_Varliklar_Sanal_Para_Birimleri_Hakkindaki_En_Guncel_Gorusleri\" title=\"Amerikan Otoritelerinin Kripto Varl\u0131klar (Sanal Para Birimleri) Hakk\u0131ndaki En G\u00fcncel G\u00f6r\u00fc\u015fleri\">Amerikan Otoritelerinin Kripto Varl\u0131klar (Sanal Para Birimleri) Hakk\u0131ndaki En G\u00fcncel G\u00f6r\u00fc\u015fleri<\/a><ul class='ez-toc-list-level-3'><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/monolith.law\/tr\/it\/crypto-assets-securities\/#Ethereum_Fiziki_ETF%E2%80%99nin_Cikisi\" title=\"Ethereum Fiziki ETF&#8217;nin \u00c7\u0131k\u0131\u015f\u0131\">Ethereum Fiziki ETF&#8217;nin \u00c7\u0131k\u0131\u015f\u0131<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/monolith.law\/tr\/it\/crypto-assets-securities\/#Kripto_Varliklarin_Degerli_Menkul_Kiymet_Olup_Olmadigina_Karar_Verme_Howey_Testi\" title=\"Kripto Varl\u0131klar\u0131n De\u011ferli Menkul K\u0131ymet Olup Olmad\u0131\u011f\u0131na Karar Verme: Howey Testi\">Kripto Varl\u0131klar\u0131n De\u011ferli Menkul K\u0131ymet Olup Olmad\u0131\u011f\u0131na Karar Verme: Howey Testi<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/monolith.law\/tr\/it\/crypto-assets-securities\/#Japonya%E2%80%99daki_Kripto_Varliklarin_Duzenlenmesi_ve_En_Son_Gelismeler\" title=\"Japonya&#8217;daki Kripto Varl\u0131klar\u0131n D\u00fczenlenmesi ve En Son Geli\u015fmeler\">Japonya&#8217;daki Kripto Varl\u0131klar\u0131n D\u00fczenlenmesi ve En Son Geli\u015fmeler<\/a><ul class='ez-toc-list-level-3'><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/monolith.law\/tr\/it\/crypto-assets-securities\/#Japonya%E2%80%99da_Kripto_Varliklarin_Yatirim_Araclari_Olarak_Siniflandirilmasi_ve_Ilgili_Duzenlemeler\" title=\"Japonya&#8217;da Kripto Varl\u0131klar\u0131n Yat\u0131r\u0131m Ara\u00e7lar\u0131 Olarak S\u0131n\u0131fland\u0131r\u0131lmas\u0131 ve \u0130lgili D\u00fczenlemeler\">Japonya&#8217;da Kripto Varl\u0131klar\u0131n Yat\u0131r\u0131m Ara\u00e7lar\u0131 Olarak S\u0131n\u0131fland\u0131r\u0131lmas\u0131 ve \u0130lgili D\u00fczenlemeler<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/monolith.law\/tr\/it\/crypto-assets-securities\/#Japonya%E2%80%99da_Islemlere_Iliskin_Duzenlemeler\" title=\"Japonya&#8217;da \u0130\u015flemlere \u0130li\u015fkin D\u00fczenlemeler\">Japonya&#8217;da \u0130\u015flemlere \u0130li\u015fkin D\u00fczenlemeler<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/monolith.law\/tr\/it\/crypto-assets-securities\/#Japonya%E2%80%99da_Son_Yillarda_Gerceklesen_Yasal_Duzenlemelerin_Trendleri\" title=\"Japonya&#8217;da Son Y\u0131llarda Ger\u00e7ekle\u015fen Yasal D\u00fczenlemelerin Trendleri\">Japonya&#8217;da Son Y\u0131llarda Ger\u00e7ekle\u015fen Yasal D\u00fczenlemelerin Trendleri<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-12\" href=\"https:\/\/monolith.law\/tr\/it\/crypto-assets-securities\/#Ozet_Kripto_Varliklarla_Ilgili_Duzenlemeler_Hakkinda_Avukata_Danisin\" title=\"\u00d6zet: Kripto Varl\u0131klarla \u0130lgili D\u00fczenlemeler Hakk\u0131nda Avukata Dan\u0131\u015f\u0131n\">\u00d6zet: Kripto Varl\u0131klarla \u0130lgili D\u00fczenlemeler Hakk\u0131nda Avukata Dan\u0131\u015f\u0131n<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-13\" href=\"https:\/\/monolith.law\/tr\/it\/crypto-assets-securities\/#Monolit_Hukuk_Burosu_Tarafindan_Sunulan_Cozumler\" title=\"Monolit Hukuk B\u00fcrosu Taraf\u0131ndan Sunulan \u00c7\u00f6z\u00fcmler\">Monolit Hukuk B\u00fcrosu Taraf\u0131ndan Sunulan \u00c7\u00f6z\u00fcmler<\/a><\/li><\/ul><\/nav><\/div>\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Geleneksel_Gorusler_ve_Yeni_Akimlar_Kripto_Varliklar_Sanal_Para_Birimleri_Hakkinda\"><\/span>Geleneksel G\u00f6r\u00fc\u015fler ve Yeni Ak\u0131mlar Kripto Varl\u0131klar (Sanal Para Birimleri) Hakk\u0131nda<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Bir zamanlar, Bitcoin ve Ethereum gibi parasal de\u011fer ta\u015f\u0131y\u0131c\u0131lar\u0131 olarak i\u015flev g\u00f6ren kripto varl\u0131klar, genellikle &#8216;mal&#8217; olarak kabul edilir ve de\u011ferli evraklar aras\u0131nda yer almad\u0131\u011f\u0131 g\u00f6r\u00fc\u015f\u00fc yayg\u0131nd\u0131.<\/p>\n\n\n\n<p>Fakat son y\u0131llarda, sadece de\u011fer ta\u015f\u0131y\u0131c\u0131 olarak de\u011fil, ayn\u0131 zamanda hizmet kullan\u0131m haklar\u0131, i\u015fletme karar haklar\u0131 ve kar pay\u0131 da\u011f\u0131t\u0131m\u0131 haklar\u0131 gibi \u00e7e\u015fitli i\u015flevlere sahip kripto varl\u0131klar piyasaya s\u00fcr\u00fclm\u00fc\u015ft\u00fcr. Bu \u00e7ok fonksiyonlu kripto varl\u0131klar, yat\u0131r\u0131m arac\u0131 olarak da bir y\u00f6n ta\u015f\u0131makta ve geleneksel &#8216;mal&#8217; kategorisine s\u0131\u011fd\u0131r\u0131lamayacak bir durum ortaya \u00e7\u0131kmaktad\u0131r.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Ethereum%E2%80%99un_Konsensus_Algoritmasi_Degisikligi_ve_Japon_Menkul_Kiymetler_Tartismasi\"><\/span>Ethereum&#8217;un Konsens\u00fcs Algoritmas\u0131 De\u011fi\u015fikli\u011fi ve Japon Menkul K\u0131ymetler Tart\u0131\u015fmas\u0131<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" src=\"https:\/\/monolith.law\/wp-content\/uploads\/2023\/11\/Shutterstock_687488425.jpg\" alt=\"Ethereum'un konsens\u00fcs algoritmas\u0131 de\u011fi\u015fikli\u011finin menkul k\u0131ymetler (sanal para birimi) yorumuna etkisi\" class=\"wp-image-63111\" \/><\/figure>\n\n\n\n<p>\u00d6zellikle dikkat \u00e7eken, piyasa de\u011feri a\u00e7\u0131s\u0131ndan \u00fcst s\u0131ralarda yer alan kripto varl\u0131k Ethereum&#8217;un konsens\u00fcs algoritmas\u0131ndaki de\u011fi\u015fikliktir (PoW&#8217;dan PoS&#8217;ye ge\u00e7i\u015f). Bu de\u011fi\u015fiklik, baz\u0131 \u00e7evrelerde Ethereum&#8217;un menkul k\u0131ymetlere dahil olabilece\u011fi ihtimalini art\u0131rabilece\u011fi y\u00f6n\u00fcnde tart\u0131\u015fmalar\u0131 beraberinde getirmi\u015ftir.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Konsensus_Algoritmasi_Nedir\"><\/span>Konsens\u00fcs Algoritmas\u0131 Nedir?<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Konsens\u00fcs algoritmas\u0131, blok zincirinde i\u015flemlerin do\u011frulanmas\u0131 ve yeni bloklar\u0131n eklenmesiyle ilgili olarak bir mutabakat olu\u015fturmak i\u00e7in kullan\u0131lan bir mekanizmad\u0131r.<\/p>\n\n\n\n<p>Konsens\u00fcs algoritmas\u0131n\u0131 anlamak i\u00e7in, kripto varl\u0131klar\u0131n (sanal para birimi) i\u015fleyi\u015fini kavramak gereklidir.<\/p>\n\n\n\n<p>Kripto varl\u0131klar\u0131nda, i\u015flemlerin do\u011frulanmas\u0131 ve blok zincirinin g\u00fcvenli\u011finin sa\u011flanmas\u0131 i\u00e7in madencilik ad\u0131 verilen bir s\u00fcre\u00e7 kullan\u0131l\u0131r. Konsens\u00fcs algoritmas\u0131, blok zincirine blok eklerken uygulanan kurallar \u00fczerinde bir mutabakat olu\u015fturmak i\u00e7in kullan\u0131lan bir y\u00f6ntemdir.<\/p>\n\n\n\n<p>\u0130lgili makale: <a href=\"https:\/\/monolith.law\/corporate\/blockchain-technology\" target=\"_blank\" rel=\"noreferrer noopener\">Blok Zinciri Teknolojisi Hangi Anlamda Yeni Bir Teknolojidir?[ja]<\/a><\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Ethereum%E2%80%99un_Konsensus_Algoritmasi_Degisikligi\"><\/span>Ethereum&#8217;un Konsens\u00fcs Algoritmas\u0131 De\u011fi\u015fikli\u011fi<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Ethereum, geleneksel olarak Bitcoin gibi di\u011fer kripto paralar\u0131n kulland\u0131\u011f\u0131 PoW (Proof of Work &#8211; \u0130\u015f Kan\u0131t\u0131) adl\u0131 konsens\u00fcs algoritmas\u0131n\u0131 benimsemi\u015fti.<\/p>\n\n\n\n<p>Daha sonra Ethereum, 2022 Eyl\u00fcl&#8217;\u00fcnde (2022), konsens\u00fcs algoritmas\u0131n\u0131 geleneksel PoW&#8217;dan PoS (Proof of Stake &#8211; Pay Kan\u0131t\u0131) sistemine de\u011fi\u015ftirdi.<\/p>\n\n\n\n<ul>\n<li>PoW (Proof of Work &#8211; \u0130\u015f Kan\u0131t\u0131): Hesaplama kaynaklar\u0131n\u0131n rekabeti yoluyla mutabakat sa\u011flanan y\u00f6ntem. Bitcoin gibi kripto paralar taraf\u0131ndan kullan\u0131l\u0131r.<\/li>\n\n\n\n<li>PoS (Proof of Stake &#8211; Pay Kan\u0131t\u0131): Kripto varl\u0131k sahipli\u011fi miktar\u0131na g\u00f6re blok \u00fcretme hakk\u0131n\u0131n verildi\u011fi y\u00f6ntem. Ethereum taraf\u0131ndan benimsenmi\u015ftir.<\/li>\n<\/ul>\n\n\n\n<p>Ethereum&#8217;un PoS sistemine ge\u00e7i\u015f yapmas\u0131n\u0131n ard\u0131nda, PoW&#8217;un b\u00fcy\u00fck enerji t\u00fcketimi sorununu \u00e7\u00f6zme amac\u0131 yatmaktad\u0131r.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Amerikan_Otoritelerinin_Kripto_Varliklar_Sanal_Para_Birimleri_Hakkindaki_En_Guncel_Gorusleri\"><\/span>Amerikan Otoritelerinin Kripto Varl\u0131klar (Sanal Para Birimleri) Hakk\u0131ndaki En G\u00fcncel G\u00f6r\u00fc\u015fleri<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Bu b\u00f6l\u00fcmde, Amerikan otoritelerinin kripto varl\u0131klar (sanal para birimleri) hakk\u0131ndaki g\u00f6r\u00fc\u015flerinin nas\u0131l de\u011fi\u015fti\u011fini ele alaca\u011f\u0131z.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Ethereum_Fiziki_ETF%E2%80%99nin_Cikisi\"><\/span>Ethereum Fiziki ETF&#8217;nin \u00c7\u0131k\u0131\u015f\u0131<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Eyl\u00fcl 2022&#8217;de, Amerikan Menkul K\u0131ymetler ve Borsa Komisyonu (SEC) Ba\u015fkan\u0131 Gensler, PoS (Proof of Stake) kullan\u0131m\u0131 sergileyen kripto varl\u0131klar\u0131n\u0131n, de\u011ferli menkul k\u0131ymetler olarak kabul edilme ihtimalinin y\u00fcksek oldu\u011funu ima eden bir g\u00f6r\u00fc\u015f belirtti. Herhangi bir marka ad\u0131ndan bahsetmemi\u015f olsa da, bu a\u00e7\u0131klama Ethereum&#8217;un PoS&#8217;ye ge\u00e7i\u015finden hemen sonra yap\u0131ld\u0131\u011f\u0131 i\u00e7in piyasan\u0131n dikkatini \u00e7ekti.<\/p>\n\n\n\n<p>Daha sonra, May\u0131s 2024&#8217;te (Reiwa 6), Amerika Birle\u015fik Devletleri&#8217;nde Ethereum fiziki ETF&#8217;si onayland\u0131. Bu durum, Amerikan d\u00fczenleyici otoritelerin Ethereum&#8217;u tam anlam\u0131yla bir de\u011ferli menkul k\u0131ymet olarak g\u00f6rmedi\u011fini ima edebilir ve bu da ilerideki yorumlara etki edebilir.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Kripto_Varliklarin_Degerli_Menkul_Kiymet_Olup_Olmadigina_Karar_Verme_Howey_Testi\"><\/span>Kripto Varl\u0131klar\u0131n De\u011ferli Menkul K\u0131ymet Olup Olmad\u0131\u011f\u0131na Karar Verme: Howey Testi<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Amerika Birle\u015fik Devletleri&#8217;nde, kripto varl\u0131klar\u0131n de\u011ferli menkul k\u0131ymet olup olmad\u0131\u011f\u0131na karar vermede genellikle Howey Testi kullan\u0131l\u0131r. Howey Testi, a\u015fa\u011f\u0131daki d\u00f6rt unsura dayanarak de\u011ferlendirilir:<\/p>\n\n\n\n<ul>\n<li>Fon toplan\u0131p toplanmad\u0131\u011f\u0131<\/li>\n\n\n\n<li>Yat\u0131r\u0131mc\u0131n\u0131n beklentisi (kar\u0131n ba\u015fkalar\u0131n\u0131n \u00e7abalar\u0131yla elde edilece\u011fi konusunda makul bir beklenti olup olmad\u0131\u011f\u0131)<\/li>\n\n\n\n<li>Ortak giri\u015fim olup olmad\u0131\u011f\u0131<\/li>\n\n\n\n<li>Kar elde etme ihtimali<\/li>\n<\/ul>\n\n\n\n<p>Yine de, Howey Testi kesin bir standart de\u011fildir ve bireysel durumlara g\u00f6re de\u011ferlendirilir.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Japonya%E2%80%99daki_Kripto_Varliklarin_Duzenlenmesi_ve_En_Son_Gelismeler\"><\/span>Japonya&#8217;daki Kripto Varl\u0131klar\u0131n D\u00fczenlenmesi ve En Son Geli\u015fmeler<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" src=\"https:\/\/monolith.law\/wp-content\/uploads\/2023\/11\/Shutterstock_1043001367.jpg\" alt=\"Japonya'da Ethereum'un menkul k\u0131ymet olarak kabul edilmesi durumundaki d\u00fczenlemeler\" class=\"wp-image-63109\" \/><\/figure>\n\n\n\n<p>Japonya&#8217;da kripto varl\u0131klar, \u00d6deme Hizmetleri Kanunu kapsam\u0131nda d\u00fczenlenmektedir; ancak, belirli kripto varl\u0131klar\u0131n menkul k\u0131ymet olarak kabul edilmesi durumunda, Finansal Ara\u00e7lar ve Borsa Kanunu&#8217;nun d\u00fczenlemeleri de uygulanabilir hale gelir.<\/p>\n\n\n\n<p>\u0130lgili makale: <a href=\"https:\/\/monolith.law\/corporate\/cryptoassets-regulation\" target=\"_blank\" rel=\"noreferrer noopener\">Kripto Varl\u0131klar\u0131n D\u00fczenlenmesi Nedir? \u00d6deme Hizmetleri Kanunu ve Finansal Ara\u00e7lar ve Borsa Kanunu \u0130li\u015fkisine Dair A\u00e7\u0131klama[ja]<\/a><\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Japonya%E2%80%99da_Kripto_Varliklarin_Yatirim_Araclari_Olarak_Siniflandirilmasi_ve_Ilgili_Duzenlemeler\"><\/span>Japonya&#8217;da Kripto Varl\u0131klar\u0131n Yat\u0131r\u0131m Ara\u00e7lar\u0131 Olarak S\u0131n\u0131fland\u0131r\u0131lmas\u0131 ve \u0130lgili D\u00fczenlemeler<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>E\u011fer kripto varl\u0131klar yat\u0131r\u0131m ara\u00e7lar\u0131 olarak kabul edilirse, Japonya&#8217;da bu varl\u0131klar\u0131n ihra\u00e7 edilmesi s\u0131ras\u0131nda yat\u0131r\u0131m ara\u00e7lar\u0131 ihra\u00e7 d\u00fczenlemelerine tabi olabilir. \u00d6zellikle, a\u015fa\u011f\u0131daki gibi d\u00fczenlemelere tabi olunmas\u0131 m\u00fcmk\u00fcnd\u00fcr:<\/p>\n\n\n\n<ul>\n<li>Yat\u0131r\u0131m ara\u00e7lar\u0131 ihra\u00e7 bildirim formunun a\u00e7\u0131klanmas\u0131 (Japon Finansal Ara\u00e7lar ve Borsa Kanunu&#8217;nun 5. maddesi)<\/li>\n\n\n\n<li>Taraflara izahname da\u011f\u0131t\u0131m\u0131 (Japon Finansal Ara\u00e7lar ve Borsa Kanunu&#8217;nun 15. maddesinin 2. f\u0131kras\u0131)<\/li>\n\n\n\n<li>Yat\u0131r\u0131m ara\u00e7lar\u0131 raporunun sunulmas\u0131 (Japon Finansal Ara\u00e7lar ve Borsa Kanunu&#8217;nun 24. maddesi)<\/li>\n\n\n\n<li>\u00dc\u00e7 ayl\u0131k raporlar\u0131n sunulmas\u0131 (Japon Finansal Ara\u00e7lar ve Borsa Kanunu&#8217;nun 24. maddesinin 4&#8217;\u00fcn 7&#8217;si, Finansal Ara\u00e7lar ve Borsa Y\u00f6netmelik Uygulama Y\u00f6netmeli\u011fi&#8217;nin 4. maddesinin 2&#8217;nin 10&#8217;unun 3. f\u0131kras\u0131)<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Japonya%E2%80%99da_Islemlere_Iliskin_Duzenlemeler\"><\/span>Japonya&#8217;da \u0130\u015flemlere \u0130li\u015fkin D\u00fczenlemeler<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Kripto varl\u0131klar\u0131n, de\u011ferli menkul k\u0131ymetler olarak kabul edildi\u011fi durumlarda, Japonya&#8217;daki de\u011ferli menkul k\u0131ymet i\u015flemlerine ili\u015fkin d\u00fczenlemelere tabi olabilece\u011fi d\u00fc\u015f\u00fcn\u00fclmektedir. \u00d6zellikle, a\u015fa\u011f\u0131daki gibi d\u00fczenlemelerin kapsam\u0131na girebilece\u011fi \u00f6ng\u00f6r\u00fclmektedir.<\/p>\n\n\n\n<ul>\n<li>\u0130nsider ticareti d\u00fczenlemeleri (Japon Finansal Enstr\u00fcman ve Borsa Kanunu&#8217;nun 166. ve 167. maddeleri)<\/li>\n\n\n\n<li>Piyasa manip\u00fclasyonu d\u00fczenlemeleri (Japon Finansal Enstr\u00fcman ve Borsa Kanunu&#8217;nun 159. maddesi)<\/li>\n\n\n\n<li>S\u00f6ylenti yayma d\u00fczenlemeleri (Japon Finansal Enstr\u00fcman ve Borsa Kanunu&#8217;nun 158. maddesi)<\/li>\n\n\n\n<li>Ad\u0131na yap\u0131lan i\u015flemlerin d\u00fczenlemeleri (Japon Finansal Enstr\u00fcman ve Borsa Kanunu&#8217;nun 159. maddesi)<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Japonya%E2%80%99da_Son_Yillarda_Gerceklesen_Yasal_Duzenlemelerin_Trendleri\"><\/span>Japonya&#8217;da Son Y\u0131llarda Ger\u00e7ekle\u015fen Yasal D\u00fczenlemelerin Trendleri<span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p>Kripto varl\u0131klarla ilgili vergi konusunda, Reiwa 4 (2022) y\u0131l\u0131 vergi reformu ile \u015firketlerin sahip oldu\u011fu baz\u0131 kripto varl\u0131klar\u0131n de\u011ferleme y\u00f6ntemlerinde g\u00f6zden ge\u00e7irmeler yap\u0131lm\u0131\u015ft\u0131r. Bireylerin kripto varl\u0131klar\u0131ndan elde ettikleri kazan\u00e7lar i\u00e7in ise, halen genel olarak toplam gelir \u00fczerinden vergilendirme uygulanmakta, ancak beyan edilen ayr\u0131k vergilendirmenin uygulanmas\u0131 da dahil olmak \u00fczere vergi reformu tart\u0131\u015fmalar\u0131 devam etmektedir.<\/p>\n\n\n\n<p>Referans: <a href=\"https:\/\/www.nta.go.jp\/publication\/pamph\/pdf\/virtual_currency_faq_03.pdf\" target=\"_blank\" rel=\"noreferrer noopener\">\u56fd\u7a0e\u5e81\uff5cKripto Varl\u0131klar\u0131n Vergilendirilmesi Hakk\u0131nda (Bilgi)[ja]<\/a><\/p>\n\n\n\n<p>Finansal Enstr\u00fcman ve Borsa Yasas\u0131&#8217;nda yap\u0131lan de\u011fi\u015fiklikler kapsam\u0131nda, Finansal Hizmetler Ajans\u0131, kripto varl\u0131klar\u0131 &#8220;finansal \u00fcr\u00fcn&#8221; olarak s\u0131n\u0131fland\u0131rmay\u0131 ve i\u00e7eriden \u00f6\u011frenenlerin i\u015flemlerine y\u00f6nelik d\u00fczenlemelerin getirilmesini de\u011ferlendirmektedir. Reiwa 7 (2025) Nisan ay\u0131nda, Finansal Hizmetler Ajans\u0131&#8217;ndan ilgili yasal d\u00fczenleme teklifi sunulmu\u015ftur.<\/p>\n\n\n\n<p>Referans: <a href=\"https:\/\/www.fsa.go.jp\/news\/r6\/sonota\/20250410_2\/01.pdf\" target=\"_blank\" rel=\"noreferrer noopener\">\u91d1\u878d\u5e81\uff5cKripto Varl\u0131klarla \u0130lgili Sistemlerin \u0130ncelenmesi (Reiwa 7 [2025] Nisan 10)[ja]<\/a><\/p>\n\n\n\n<p>Ayr\u0131ca, Reiwa 5 (2023) Haziran ay\u0131nda y\u00fcr\u00fcrl\u00fc\u011fe giren Travel Rule (Kripto Varl\u0131klar\u0131n ve Elektronik \u00d6deme Ara\u00e7lar\u0131n\u0131n Transferi \u0130le \u0130lgili Bildirim Y\u00fck\u00fcml\u00fcl\u00fc\u011f\u00fc) uygulamas\u0131 ve m\u00fc\u015fteri varl\u0131klar\u0131n\u0131n ayr\u0131 y\u00f6netiminin g\u00fc\u00e7lendirilmesi gibi, kripto varl\u0131k de\u011fi\u015fim hizmeti sa\u011flay\u0131c\u0131lar\u0131na y\u00f6nelik d\u00fczenlemeler de g\u00fc\u00e7lendirilmi\u015ftir.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Ozet_Kripto_Varliklarla_Ilgili_Duzenlemeler_Hakkinda_Avukata_Danisin\"><\/span>\u00d6zet: Kripto Varl\u0131klarla \u0130lgili D\u00fczenlemeler Hakk\u0131nda Avukata Dan\u0131\u015f\u0131n<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Kripto varl\u0131klar\u0131n (sanal para birimleri) de\u011ferli menkul k\u0131ymetler olarak kabul edilip edilmedi\u011fi konusunda net bir karar vermek, \u015fu an itibar\u0131yla bile zor bir durumdad\u0131r. Ancak, \u00f6zellikle \u00e7ok fonksiyonlu kripto varl\u0131klar\u0131n de\u011ferli menkul k\u0131ymetler olarak g\u00f6r\u00fclme ihtimalini inkar etmek m\u00fcmk\u00fcn de\u011fildir.<\/p>\n\n\n\n<p>Kripto varl\u0131klar\u0131 i\u015fleyen i\u015fletmeler, her zaman en g\u00fcncel yasal d\u00fczenlemeleri ve ulusal ve uluslararas\u0131 geli\u015fmeleri yak\u0131ndan takip etmeli ve ele ald\u0131klar\u0131 kripto varl\u0131klar\u0131n de\u011ferli menkul k\u0131ymetler olarak de\u011ferlendirilmesi durumunda bile buna uygun bir sistem kurmu\u015f olmal\u0131d\u0131rlar.<\/p>\n\n\n\n<p>Kripto varl\u0131klar\u0131n yasal d\u00fczenlemeleri, gelecekte de de\u011fi\u015fmeye devam edece\u011fi \u00f6ng\u00f6r\u00fclmektedir. E\u011fer herhangi bir konuda belirsizlikleriniz veya endi\u015feleriniz varsa, uzman bilgisine sahip bir avukata dan\u0131\u015fman\u0131z\u0131 \u00f6neririz.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Monolit_Hukuk_Burosu_Tarafindan_Sunulan_Cozumler\"><\/span>Monolit Hukuk B\u00fcrosu Taraf\u0131ndan Sunulan \u00c7\u00f6z\u00fcmler<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Monolit Hukuk B\u00fcrosu, \u00f6zellikle internet ve hukuk alanlar\u0131nda y\u00fcksek uzmanl\u0131\u011fa sahip bir hukuk firmas\u0131d\u0131r. G\u00fcn\u00fcm\u00fczde dikkat \u00e7eken kripto varl\u0131k ili\u015fkili i\u015fletmeler, y\u00fcksek derecede uzmanl\u0131k gerektirir ve hukuki denetimler zorunludur. Firmam\u0131z, \u00e7e\u015fitli Japon yasalar\u0131n\u0131n d\u00fczenlemelerini g\u00f6z \u00f6n\u00fcnde bulundurarak, zaten ba\u015flat\u0131lm\u0131\u015f veya ba\u015flat\u0131lmas\u0131 planlanan i\u015fletmeler i\u00e7in hukuki riskleri analiz eder ve i\u015fleri durdurmadan yasal uygunlu\u011fu sa\u011flamay\u0131 hedefler. A\u015fa\u011f\u0131daki makalede detaylar\u0131 bulabilirsiniz.<\/p>\n\n\n\n<p>Monolit Hukuk B\u00fcrosu&#8217;nun Uzmanl\u0131k Alanlar\u0131: <a href=\"https:\/\/monolith.law\/blockchain\" target=\"_blank\" rel=\"noreferrer noopener\">Kripto Varl\u0131klar &amp; Blockchain[ja]<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Kripto varl\u0131klar (sanal para birimleri), \u00e7e\u015fitlilikleri, kullan\u0131m ve i\u015flem y\u00f6ntemlerinin evrimi nedeniyle, hukuki yorumlar\u0131 s\u00fcrekli de\u011fi\u015fmektedir. \u00d6zellikle, &#8220;kripto varl\u0131klar\u0131n menkul k\u0131ymetler [&hellip;]<\/p>\n","protected":false},"author":32,"featured_media":74153,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[16],"tags":[20,19],"acf":[],"_links":{"self":[{"href":"https:\/\/monolith.law\/tr\/wp-json\/wp\/v2\/posts\/73944"}],"collection":[{"href":"https:\/\/monolith.law\/tr\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/monolith.law\/tr\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/monolith.law\/tr\/wp-json\/wp\/v2\/users\/32"}],"replies":[{"embeddable":true,"href":"https:\/\/monolith.law\/tr\/wp-json\/wp\/v2\/comments?post=73944"}],"version-history":[{"count":2,"href":"https:\/\/monolith.law\/tr\/wp-json\/wp\/v2\/posts\/73944\/revisions"}],"predecessor-version":[{"id":74154,"href":"https:\/\/monolith.law\/tr\/wp-json\/wp\/v2\/posts\/73944\/revisions\/74154"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/monolith.law\/tr\/wp-json\/wp\/v2\/media\/74153"}],"wp:attachment":[{"href":"https:\/\/monolith.law\/tr\/wp-json\/wp\/v2\/media?parent=73944"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/monolith.law\/tr\/wp-json\/wp\/v2\/categories?post=73944"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/monolith.law\/tr\/wp-json\/wp\/v2\/tags?post=73944"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}