Turkey increases its cryptocurrency regulations with new rules for cryptographic asset service providers (CASPS).
On March 13, Turkey’s Capital Markets Board (CMB) published two regulatory documents concerning the licenses and operations of CASP, including the exchanges of Crypto, guards and portfolio service providers.
The framework grants the complete supervision of the CMB of cryptographic platforms, guaranteeing compliance with national and international standards.
An extract from the title page of the CASP regulatory document by the CMB. Source: Official Gazette
It also establishes standards and requirements to establish and provide cryptographic asset services in Turkey, covering the capital of the establishment, the history of managers, shareholders’ rules and others.
Minimum capital requirements for casps
In the context, the minimum capital requirement for scholarships is $ 4.1 million, while guards must have at least $ 13.7 million, said Cointelegraph international lawyer Burcak ünsal.
“Fixed fixed assets, receivables, available for sale, financial assets are excluded from the minimum capital requirement,” he noted.
In addition, CASP will have to invest in the compliance infrastructure and establish dedicated risk management teams to identify and manage a risk range. Providers must also establish a price monitoring system to alert a suspicious negotiation activity.
Turkish casps must comply with strict reporting requirements, providing CMB time -on information on their operations.
The new framework also strengthens the standards of anti-whiteness cryptography (LMA) of Turkey, forcing the casps to record significant data of information on transactions, including canceled and not executed transactions.
An extract from the CASP CASP regulatory document (translated by Google). Source: Official Gazette
Turkey previously introduced Crypto AML regulations in December 2024, forcing users to share identification information with casps for transactions of more than 15,000 Turkish Liras ($ 409).
Crypto derived transactions are prohibited
According to ünsal, the CMB frame also prohibits derived transactions with the crypto.
On the other hand, exchanges have the right to launch initial offers of parts provided that they examine the relevant intelligent contracts and guarantee the registration criteria.
“Cryptographic regulations are silent on how security tokens are defined. However, the issue of security tokens is not prohibited, “noted the lawyer. “The purchase of goods and services with Crypto in Turkiye remains prohibited due to the regulations of the central bank,” he added.
According to the lawyer, the regulations have different periods of grace to enter into force, most of them entering into force on June 30, 2025 and by the end of the year at the latest.
According to the document, the new regulation of the cryptography of Turkey aligns with global standards and followed the regulatory approaches established by the regulation of European markets in the assessments (MICA) and the American commission of securities and exchange.
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