Research Information System
EUROPEAN REVIEW OF PRIVATE LAW, vol.33, pp.1125-1144, 2025 (ESCI, Scopus)
The Turkish legislator has taken a sui generis approach by imposing strict liability on cryptoasset service providers (CASPs) for crypto-asset losses through recent amendments to the Turkish Capital Markets Law (TCML). According to Article 99/B(4) TCML, CASPs are held liable for losses resulting from activities like system operation failures, cyber-attacks, information security breaches, or personnel misconduct, according to the general strict liability rule in Turkish law, which is based on the principle of significant degree of danger. This provision marks a first in Turkish law, classifying a kind of digital platform as an enterprise that poses a significant danger and subjecting it to strict liability, which raises questions about its appropriateness. This paper examines whether imposing strict liability on CASPs based on posing a significant danger is justifiable under Turkish law. By comparing Article 75(8) of Markets in Crypto-Assets Regulation (MICA), analysing CASPs’ activities and inherent risks, evaluating them with strict liability principles, and considering AI’s contribution to strict liability discussions, the paper concludes that the Turkish legislator’s unique approach may not be entirely justifiable.