Crypto to Real estate (Turkey)

[Rebarpon]

Buying property with crypto in Turkey seems to be a working process.
As far as I can oversee the regulation, there is no need to proof the source of funds or anything crypto related.

In this case the crypto can't be used elsewhere, as there is no proper proof of source.
As most of it was farmed through Airdrops many years ago.

Do I get it right, that in the end Turkey is happy, it sold another crappy property, the EU is happy, as it doesn't really care if someone buys property somehwere else (you have to tax the income but not owning a property) and after a couple of
years it will be possible to sell the property again for a proper bank transfer.

 

[Sols]

With its currency in a dreadful state, Turkey is desperate for money and the government is not currently expecting banks to do much to check source of funds. That doesn't mean there won't be any checks ever but unlike a bank in the EU, a bank in Turkey will only ask the bare minimum and will accept almost any explanation that isn't illegal (in Turkey).

Your mileage may vary. They are beginning to go back to somewhat stricter controls in order to stay off gray/warning lists.

 

[Rebarpon]

With its currency in a dreadful state, Turkey is desperate for money and the government is not currently expecting banks to do much to check source of funds. That doesn't mean there won't be any checks ever but unlike a bank in the EU, a bank in Turkey will only ask the bare minimum and will accept almost any explanation that isn't illegal (in Turkey).

Your mileage may vary. They are beginning to go back to somewhat stricter controls in order to stay off gray/warning lists.

Thank you for your reply!
So in short it works (at least now).

The question is, all the deals are settled in cash. So when is the bank even going to ask any questions? I guess during the selling procedure?
But then the real estate will be your property for years so not much to ask either?