The Turkish legal system finally met cryptocurrencies and related organizations. The Izmir Regional Court of Justice put an end to the conflict between the Muğla Civil Court of First Instance and the Muğla Commercial Court of First Instance. The court also made a statement regarding the nature of crypto currency trading in its decision.
The nature of the company’s partner and transactions related to cryptocurrencies became the subject of discussion
The person who is the partner of a company operating in the crypto money exchange in Muğla, stated that the company suddenly stopped its activities, closed its website, and became unable to access cryptocurrencies, and filed a compensation lawsuit against the other partner of the company. Meanwhile, the plaintiff claimed that the company had collected money from hundreds of people, including himself, with the promise of receiving cryptocurrencies, making it appear as if they were bought cryptocurrencies. In this context, he stated that there is an investigation against his partner for the crime of “fraud”.
Muğla 2nd Civil Court of First Instance, which heard the lawsuit for compensation, gave a decision of non-jurisdiction on the grounds that the defendant company was a “trader” and the business was “commercial”. Therefore, the Civil Court sent the file to the Muğla Commercial Court of First Instance. However, the Commercial Court of First Instance stated that although the defendant company was a “trader”, the plaintiff did not have a commercial personality and gave a decision of non-jurisdiction on the grounds that the subject of dispute was not one of the absolute commercial cases in the Turkish Commercial Code (TTK). The court noted that cryptocurrencies are not, by their nature, a commercial business. He stated that all individuals, whether traders or not, can enter the system and trade cryptocurrencies.
File went to BAM due to non-commissioned decisions
cryptocoin.com As we have reported, the Civil Courts of First Instance and Commercial Courts of First Instance gave a decision of non-jurisdiction in the case. After that, the case went to the Izmir Regional Court of Justice for the determination of the competent court. The 23rd Civil Chamber of the Izmir Regional Court of Justice decided that the competent court was the Civil Court of First Instance.
The Court’s decision is precedent. Because, the decision was taken unanimously, with no way of appeal pursuant to the relevant article of the HMK. In the decision, BAM stated that the case concerned the collection of cryptocurrencies. He also pointed out that in the Turkish Commercial Code, special provisions regarding the stock market were referred to, but there was no legal regulation regarding crypto currency exchanges. In its decision, the court emphasized that transactions on the cryptocurrency exchange are made between the buyer and the seller. Therefore, it determined that the disputed case is not an absolute or relative “commercial case”.
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