Turkey is advancing its cryptocurrency rules with new guidelines for crypto asset service suppliers (CASPs).
On March 13, the Capital Markets Board (CMB) of Turkey published two regulatory paperwork associated 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 companies in Turkey, equivalent to institution capital, historical past of executives, shareholder guidelines and others.
Stricter necessities for CASPs
Underneath the framework, CASPs shall be required to spend money on compliance infrastructure and set up devoted danger administration groups to establish and handle a spread of dangers. The suppliers can even have to ascertain a worth monitoring system to alert suspicious buying and selling exercise.
Turkish CASPs can even have to stick 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, requesting CASPs to document vital information 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 introduced crypto AML regulations in December 2024, requiring customers to share figuring out info with CASPs for transactions of greater than 15,000 Turkish liras ($409).
In response to the doc, Turkey’s new crypto rules align with world requirements and observe regulatory approaches set by Europe’s Markets in Crypto-Assets Regulation (MiCA) and the US Securities and Trade Fee.
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