The Turkish Law No. 6563 on the Regulation of Electronic Commerce (“E-Commerce Law”) adopted in 2014, basically regulates the responsibilities of e-commerce service providers ("Service Provider") and e-commerce intermediary service providers (“Intermediary Service Provider”), the contracts made over electronic communication tools and their obligations to provide information based on electronic commerce, and the sanctions that can be applied. The E-Commerce Law also aims to provide an environment of trust in the electronic commerce market, protect personal data, the confidentiality of communication, and protect consumers in their transactions in the electronic commerce Marketplaces (“Marketplace”).
Recent developments such as economic crises, pandemics, climate crisis, green transformation and the increasing importance of compliance with strategies such as European Green Deal necessitates a sustainable and innovative finance approach in the world and in our country's capital markets. Therefore, the need for long-term funds to finance the investments required for the transition to a low-carbon economy and projects that contribute to environmental sustainability increases the importance of capital markets. In order to accelerate the sustainable development of our country, in the 2022 target announcements and draft guidelines of the Turkish Capital Markets Association and the Capital Markets Board; it is seen that innovative capital markets financing products related to environmental and social problems such as climate change are supported.
Open Banking doesn't just happen because regulations enforce it, it's commercially embraced as an opportunity to make a nation's financial infrastructure more efficient, more resilient, and better serve customers. We look forward to the opportunities it will bring to the economy and society as a whole. Open Banking Implementation Entity the 'OBIE' Implementation Auditor Imran Gulamhuseinwala, UK
Data protection legislations generally aim to protect the fundamental privacy rights of natural persons, to have more control over their personal data and to grant more rights over this data belonging to them. In blockchain technology, data protection and confidentiality must be taken into account whenever personal data of real persons are processed. In accordance with GDPR and KVKK legislation, a natural or legal person must be responsible for the establishment and management of the data recording system.
Considering the environmental, social, political and economic developments, it is considered as a more profitable and efficient way for companies located abroad to employ foreign nationals in Turkey. If certain conditions are met, it is possible to meet the demands of companies in this direction. Persons who will work in Turkey are required to obtain a "work permit" in accordance with the rules and criteria set by the International Labor Law No. 6735.
The rise in the popularity of NFTs also raises some questions regarding copyright law. Earlier last year, an independent NFT dealer calling itself the “Global Art Museum” tokenized digitized versions of the famous artworks from many collections such as Rembrandt's “Night Watch” that has been on display at the Rijksmuseum in the Netherlands for years and other art from the Art Institute of Chicago, the Birmingham Museum and the Cleveland Museum of Art.
In March 2021, a digital artwork called “Everydays: The First 5000 Days” was sold by Christies, a British auction house, for $69 million. In other words: Someone paid almost $70 million for a picture on the Internet. Shortly after this sale, cryptographic tokens known as “Non-Fungible Tokens” (“NFT”) with a blockchain technology infrastructure quickly became a part of the mainstream in the art and technology world. Hundreds of millions of dollars of NFT sales now occur each week through public marketplaces like Foundation, OpenSea, and Nifty Gateway.