Turkey tightens crypto regulations with new rules for exchanges, custodians
Turkey is advancing its cryptocurrency regulations with new rules for crypto asset service providers (CASPs).
On March 13, Turkey’s Capital Markets Board (CMB) published two regulatory documents regarding 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, covering 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 must also establish a price monitoring system to alert suspicious trading activity.
Turkish CASPs must 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, requiring 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 more than 15,000 Turkish liras ($409).
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.
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