Turkey is advancing its cryptocurrency laws with new guidelines for crypto asset service suppliers (CASPs).
On March 13, Turkey’s Capital Markets Board (CMB) revealed two regulatory paperwork relating to the licensing and operations of CASPs, together with crypto exchanges, custodians and pockets service suppliers.
The framework grants the CMB full oversight of crypto platforms, guaranteeing compliance with nationwide and worldwide requirements.
An excerpt from the title web page of the CASP regulation doc by the CMB. Supply: Official Gazette
It additionally units requirements and necessities for establishing and offering crypto asset providers in Turkey, protecting institution capital, historical past of executives, shareholder guidelines and others.
Stricter necessities for CASPs
Beneath the framework, CASPs can be required to spend money on compliance infrastructure and set up devoted threat administration groups to determine and handle a variety of dangers. The suppliers should additionally set up a value monitoring system to alert suspicious buying and selling exercise.
Turkish CASPs should adhere to stringent reporting necessities, offering the CMB with well timed details about their operations.
Moreover, the brand new framework additional strengthens Turkey’s crypto Anti-Cash Laundering (AML) requirements, requiring CASPs to document important knowledge units of transaction info, together with canceled and unexecuted transactions.
An excerpt from CMB’s CASP regulation doc (translated by Google). Supply: Official Gazette
Turkey beforehand launched crypto AML laws in December 2024, requiring customers to share figuring out info with CASPs for transactions of greater than 15,000 Turkish liras ($409).
In line with the doc, Turkey’s new crypto laws align with international requirements and observe regulatory approaches set by Europe’s Markets in Crypto-Property Regulation (MiCA) and the US Securities and Alternate Fee.
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