Turkey is strengthening its cryptocurrency regulations with new rules aimed at crypto asset service providers (CASPs). On March 13, the Capital Markets Board (CMB) of Türkiye released regulatory documents governing the licensing and operations of CASPs, which include exchanges and custodians. The CMB will now oversee these platforms to ensure they comply with national and international standards. The regulations establish requirements for providing crypto asset services in Turkey, such as minimum capital requirements and executive background checks. CASPs will need to enhance their compliance infrastructure and adhere to stringent reporting standards, providing timely operational updates to the CMB. The new regulations align with global standards, drawing from the European Markets in Crypto-Assets Regulation (MiCA) and regulations set by the US Securities and Exchange Commission. Additionally, the regulations introduce stricter trading requirements for Turkish investors and may include restrictions on stablecoins while also addressing the decentralized finance (DeFi) market in Turkey. More information will be provided as the situation develops.

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