Turkey is advancing its cryptocurrency regulations with new rules for crypto asset service providers (CASPs).
On March 13, the Capital Markets Board (CMB) of Turkey published two regulatory documents related to the licensing and operations of CASPs, including crypto exchanges, custodians and wallet service providers.
The framework grants the CMB full oversight of crypto platforms, ensuring compliance with national and international standards.
An excerpt from the title page of the CASP regulation document by the CMB. Source: Official Gazette
It also sets standards and requirements for establishing and providing crypto asset services in Turkey, such as establishment capital, history of executives, shareholder rules and others.
Stricter requirements for CASPs
Under the framework, CASPs will be required to invest in compliance infrastructure and establish dedicated risk management teams to identify and manage a range of risks. The providers will also have to establish a price monitoring system to alert suspicious trading activity.
Turkish CASPs will also have to adhere to stringent reporting requirements, providing the CMB with timely information about their operations.
Additionally, the new framework further strengthens Turkey’s crypto Anti-Money Laundering (AML) standards, requesting CASPs to record significant data sets of transaction information, including canceled and unexecuted transactions.
An excerpt from CMB’s CASP regulation document (translated by Google). Source: Official Gazette
Turkey previously introduced crypto AML regulations in December 2024, requiring users to share identifying information with CASPs for transactions of
Under the new regime, users executing transactions of more than 15,000 Turkish lira ($425) will be required to share their identifying information with the country’s crypto service providers, according to a Dec. 25 document issued by the Official Gazette of the Republic of Turkey.
According to the document, Turkey’s new crypto regulations align with global standards and follow regulatory approaches set by Europe’s Markets in Crypto-Assets Regulation (MiCA) and the US Securities and Exchange Commission.
The regulations also target stricter trading requirements for Turkish investors, introduce potential stablecoin restrictions and address the decentralized finance (DeFi) market in Turkey.
This is a developing story, and further information will be added as it becomes available.
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