Regulations regarding the attachment of crypto assets are underway

The Executive and Bankruptcy Law Draft (“Draft Law”) has been published by the General Directorate of Legislation and opened for public comment until January 31, 2026.

The presence of provisions concerning crypto assets in the Draft Law is an indicator of as to how much this sector has become integrated into our lives.

According to the Draft Law, debtors will now be able to declare their crypto assets, which fall under the definition in Article 3/1 of the Capital Markets Law (“CML”), in their asset declarations; furthermore, crypto assets can be subject to valuation, and expert appraisers will provide services in this area.

Additionally, Chapter 4 of the Draft Law is specifically dedicated to “Crypto Assets, Special Cases Regarding Attachment and Custody, and Custody Expenses”; thus, in parallel to the existing precedent decisions, the Draft Law legally underscores that assets defined as crypto assets under CML Article 3/1 can be attached.

Moreover, the process for executing attachment has been clarified by the provision: “requests concerning attachments of crypto assets held with crypto asset service providers by the debtor shall be exclusively fulfilled by the crypto asset service providers.” The Draft Law makes it possible to inquire about cash and crypto assets via information systems and to attach them electronically. However, while the Draft Law does not clearly specify who will provide access to the crypto assets stored in a digital wallet (and even in a crypto hardware wallet in the debtor’s possession) in case of attachment; it is possible to interpret that this will be done by the crypto asset service providers.

Finally, the Draft Law stipulates that the procedure for the custody and liquidation (conversion to cash) of attached crypto assets by the enforcement and bankruptcy office, which is the most confusing issue in practice, will be determined by a regulation.