.. Bitcoin value of the user may vary depending on supply and demand. Therefore, the system also can be regarded as a kind of virtual stock.
I – What is Bitcoin?
Bitcoin, not produced by any central bank, the currency of the country of individuals who use this system with units purchased or self-produced electronic / virtual is money.
Bitcoin value of the user may vary depending on supply and demand. Therefore, the system also can be regarded as a kind of virtual stock. States, the bitcoin electronic currency recognition and widespread use of these systems, if value can be increased further. However, the system of the risks associated crime, which facilitates to provide an environment and bitcoin limited amount to be taken into account, the value of the time preferred by the users so as not to decrease the probability can be raised.
for the moment bitcoin, e-commerce known by the name in the internet environment providers drop by and in a sense “AVM” is defined as shopping centers like sites located in the virtual stores buyers – sellers of used value. Internet purchases made in the environment – selling used in bitcoin, invisible reality grasped by hand, not printed on any printing or mints are worth the money. In the Internet environment bitcoin the purchase – sale, as is product sales as value for money by the buyer to the seller is paid, the seller also has achieved bitcoin again the internet on the media by stock exchanges in circulation into a currency, such as the U.S. dollar can turn.
Let’s mention, uncontrolled with Bitcoin exchange for making or actually hide behind legal-looking products in the illegal trade of products, consumption and it is possible to manually change the subject. Because national and international money movement, the movement of money you need and what you actually paid for as well as they can be easily followed in matters of state, based on bitcoin exchange for the same is unlikely to be able to track and identify. Be taxed if it is a separate issue. In this case or similar bitcoin virtual currency values, whether the subject of international agreements, should be regulated in the domestic law of nations and so on, all kinds of public power user of currency movements should be done under the supervision of the state. States remain indifferent to developments and legal infrastructure to create value through the handover of sovereignty, and every kind of expression should take control of the currency.
To use the systemBitcoin user must be a member of this system. Date of the user name and e-mail information is requested. Apart from this, users need to share any personal information is not available.
days Bitcoin addresses are stored in encrypted form. Users on the system, create virtual wallets, bitcoin is keep their money in the wallet. Bitcoin transfers to be made through the system, the amount of users bitcoin wallet and in all the movements of users on the system, “block chain called” a kind of virtual book is recorded. Transactions through the system is used in the real credentials of these procedures are performed by whom it is very difficult to detect.
out of Bitcoin system, time, and without the borders of the country, at any time and anywhere is possible to transfer money. These payments from one point to another point, are made without intermediaries such as banks. These developments, in particular banks, international and national rules and systems in the area threatens to send money. This threat, perhaps, lead to changes in conventional methods and will make it simpler for the transfer of money, money changing hands will be able to get away with all of the physical being.
a person, another person to pay with Bitcoin and the person who made the payment to him of wanting to turn this money into national currency, a portion of credentials may need to be reported. For example, the international transfer operations that accept bitcoin exchange offices are in the nature of the vehicle. These agents had been paid for the completion of the transfer process of the person who is able to demand account information. This situation, people seem to be exceptions to the confidentiality of the identity information.
of users’ personal information and the difficulty in identifying financial resources, the system facilitates the perpetration through. The system currently, drug trafficking, gambling on the internet, such as money laundering verbs are used in processing the information. For example, the FBI conducted by the studies, a foreign website over the internet drug sale and purchase is made and the shopping in the bitcoin system is also used have been identified, access to the site is blocked and owner of the website on the criminal investigation has been launched.
One of the risks ofBitcoin system users’ accounts seized by another user or by the user on the system, the process is carried out incorrectly or accidentally. Seized by another user of a user account in the event that control it, and be able to identify a method that allows the user to get back the account or there is no mechanism. In the same way users irrevocable nature of the transactions is also made, withdrawal or correction of wrong operation is not possible. Even if these issues are not yet born bitcoin system that seems to be typical of the problems, the rule of law in this area should be provided with a hand thrown scheme clearly reveals. Which is important because, without violation of the law and the prevention of crimes committed in this way is the protection of individual rights and freedoms.
II – Bitcoin and Legal Arrangements in Turkey
Bitcoin any by the central bank is pressed, audit failure, bitcoin transfers the originating side and transfer operations from evident that the exact location of the impossible in the face, states that the electronic money know someone that system, the use of legal sanctions subject to the holding should keep wondering what it is. At this stage in our country, bitcoin is legal regulations that prohibit the use of the system, but this system recognizes and approves the use of a regulation is not included. There is no legislation on the subject, the current discussion of our legislation would be applicable on these systems will be in place. However, we must stress not prohibited by law and enforcement activities shown or execution of an action can not be prevented, and shall not be subject to the sanctions. A typical result of being a democratic state of law, “state of law” and “the legality of crime and punishment” is to adhere to the principles. 2 of the Constitution, which at the top of the hierarchy of norms, 13 and 38 agents clearly demonstrated this commitment.
Payment and Securities Settlement Systems
No. 6493, the Law on Payment Services and Electronic Money Institutions, published in the Official Gazette No. 28690 dated 06.27.2013 entered into force. Law “Definitions” Section 3, entitled materials, electronic money issuers, adopted by the fund money issued, under this Act defined the payment procedures used to perform and electronic money issuers, other real and legal persons, by means of payment accepted as the monetary value of electronic money, as has been described. In the same article the electronic money institutions, as a legal entity that is authorized to issue electronic money have been identified. Regulations related to electronic money issuers, in Article 18 of the Law and more are included. 18 of Law According to the article, these organizations only joint-stock company can be established, cash and all kinds of free of collusion paid-up capital of at least five million Turkish lira will be numbered 5411 defined in the Law through banks to conduct and substance listed in other conditions also will perform.
21 of Law In substance, mainly relating to the supervision of these institutions are regulated. Accordingly, the Banking Regulation and Supervision Agency, at the center of electronic money
26 of the law Article 3 of the in paragraph “Domestic and foreign competent authorities and control, information sharing and other issues that will be co-related to the principles and procedures, system operator for the Bank; payments and electronic money institutions for the Assembly’s views of interested parties to be taken is determined by.” is called.
6493 Law No. grounds, electronic money, the spread of the central banks monetary policy and payment systems Besides the effect of economic stability in maintenance of importance for reasons of current needs and can respond arrangements should be done has been described, this Act bitcoin on the system would be implemented believe. The above-mentioned provisions are examined, electronic money institutions of higher capital joint stock company need to be established, electronic money only permitted by organizations can be produced, subject to independent audit is and activities 5411 envisaged in the law through banks conduct is understood that.
the Bitcoin system, not by an individual or an organization, the system is used and is directed by a registered user. Applications installed on the system can be considered as a kind of smartphone. Bitcoin system, the real identity is an application created by an unknown person and is currently used by many people in the world. App creator of this application is not in the position of manager. The application itself is walking with the transactions of individuals. Application of the mode of operation, in accordance with a person’s or entity’s management is not possible to be, the provisions of Law No. 6493 will not be applied for bitcoin system.
Bitcoin system based abroad and the management of a company or institution, even assuming that the system can not be applied about the provisions of Law No. 6493. As described above, the electronic money institutions to operate in Turkey, will be subject to the Agency’s supervision. Establishment, an establishment located abroad, it is clear it can not control. In addition, the Act m.26 / 3 in order to ensure the provision specified in the collaboration, the center of the bitcoin system abroad or at home should be an organization. However, the system does not carry these conditions.
Banking Regulation and Supervision Agency 11.25.2013 dated and 2013/32 dated press release, the bitcoin any public or private organization be issued by and provisions for guarantees are not given a virtual currency that the current structure and functioning as of 6493 scope of the law was not considered as electronic money, so this law does not seem possible within the framework of supervision and control is indicated.
press release with users, bitcoin and other virtual currencies and transactions in the parties’ identities are unknown, this virtual money involved in illegal activities suitable for use create an environment where bitcoin market value of the variables as possible, the digital wallet stolen can be, can be lost or the knowledge of the outside as illegal to use where risks are stimulated in such matters. The strange thing is, that this warning is the Banking Regulation and Supervision Agency and the relevant public authority in the face of a loophole in the law is to continue to maintain silence.
system recognized by the Republic of Turkey in the event of bitcoin, will be classified as counterfeit money? The answer to this problem, “the legality of crime and punishment” within the framework of the principles you need to find. Because the crime was committed in the laws of time and money are not defined as shown in the actual execution of sentence on the grounds that no one punished.
5237 on the subject197 and 198 of the Turkish Penal Code agents have to be studied. Law 197 In substance, legally in the country or in foreign countries as the currency in circulation counterfeit production, introduction to the country, transport, storage and put into circulation was defined as a crime. Law 198 In substance, money equal to the default values ??are explained and negotiable instruments issued by state and national jewelery gold is stated that the money in the provision. Bitcoin in any country of the lack of currency in circulation and are not produced by the government reasons, TPC at 198 m.197 and given a new regulation on the subject, unless we believe can not be considered within the scope of counterfeit money. Most importantly, have both 197 and 198 referred to in Article counted equal to money and physical assets of value, when requested visible and tangible, there are features that can be the subject of possession.
thread, No. 1567 on the Protection of the Value of Turkish Currency held on the basis of this Law and Law on the Protection of the Value of Turkish Currency also need to assess the scope of Decree No. 32. The quality of law is in accordance with the Law No. 1567, based on the protection of the Turkish currency and sanctions, is regulated by Decree No. 32. No. 1567 in the Act, based on this Law organized the Council of Ministers provisions contained in acting contrary to the about the sanctions and crime issues in general terms, arranged sanction of the acts identified and the related regulatory authority for the Council of Ministers has been given.
38 of the Constitution Article 3 of the According to the paragraph; “Punishment and penalties in lieu of security measures but by law is put.” opinion, “crime and punishment in the legality” principle without exception have to be applied is the executive organ of the regulatory procedure with crime and punishment put forward must be . This acceptance, “Crime and the principle of legality in criminal titled” TPC m.2, are also suitable.
However, in practice, the punishment given, by law, the definition of the crime and the administration is left to the executive branch, the Constitutional basis m.38 ‘s rationale we see the open criminal norms. Looking at the subject in terms of bitcoin system, as well as the Law and Decree No. 32 on the implementation of this system is seen that there is a favorable provisions. These arrangements, as the basis of the Turkish currency, foreign exchange, securities and valuables in the import and export procedures and principles to be applied are related to.
As a result; bitcoin’s recent tax evasion, drugs, gambling on the internet and even used to commit money laundering is becoming a system. States in the system due to these risks, bitcoin is about recognizing live hesitation. In our country, a new legislation on the issue is done, use bitcoin and / or the possibility to pay with bitcoin is the provision of free legal sanctions are actions that require. Online source of clear and public power based on the absence of who they are and responsibilities specific to those managed Failure over the internet credentials needed without user without a trace, you can trade for reasons such as issues relating to only limited to national level legal regulation, even when the source and owner of the Republic of Turkey not in the rules and regulations of the bitcoin system Attaining seems difficult.
Maybe
public authority, and currency bitcoin system does not recognize, you can tell that support the circulation with the use of, or even system subject to the definition of offenses and penalties can. Do you think this is the right thing but he needs. Because in the field of science and technology for the rapid and shocking development, the rule of law to forbid altogether by not solve the problem, on the contrary increases. For this reason, blessing – the burden balance well set up, public revenues and individual rights and freedoms protect the legal regulations, especially international agreements by way of the internet environment used in the monetary value of a system incorporating the introduction of hit will be. In the future, physical environment, ie all kinds of tangible and visible actions and way of life in a virtual environment we would like to express future agenda.
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