Turkey is taking a major step forward in regulating the cryptocurrency industry with the introduction of new rules for crypto asset service providers (CASPs). These regulations, published by the Capital Markets Board (CMB) of Türkiye on March 13, aim to ensure compliance with national and international standards for CASPs, including crypto exchanges, custodians, and wallet service providers.

The framework, which can be found on the CMB’s website, gives the board full oversight of crypto platforms and sets standards and requirements for establishing and providing crypto asset services in Turkey. This includes criteria such as establishment capital, executive history, and shareholder rules.

These stricter requirements for CASPs may pose challenges for them to adapt to the new regulatory environment. They will also be required to invest in compliance infrastructure and adhere to stringent reporting requirements, providing the CMB with timely and accurate information about their operations.

The new 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. They also address potential stablecoin restrictions and the decentralized finance (DeFi) market in Turkey.

These developments come as no surprise, as countries around the world are increasingly recognizing the need for clear and comprehensive regulations for the cryptocurrency industry. This is a positive step towards mainstream adoption and legitimacy for cryptocurrencies.

However, these regulations may also have an impact on Turkish investors, as they introduce stricter trading requirements and potential restrictions on stablecoins. It is important for investors to stay informed and comply with these regulations to avoid any potential legal issues.

This is a developing story, and further information will be added as it becomes available. In the meantime, readers can also check out our magazine article on how crypto laws are changing across the world in 2025 for a deeper understanding of the evolving regulatory landscape.

As the cryptocurrency industry continues to grow and evolve, it is crucial for regulators to keep up with the pace and ensure a safe and transparent environment for all stakeholders. These new regulations in Turkey are a step in the right direction and will likely serve as a model for other countries looking to regulate the industry.