Turkey increases its cryptocurrency regulations with new rules for cryptographic asset service providers (CASPS).
On March 13, Turkey’s Market Board (CMB) capital published two regulatory documents linked to CASP licenses and operations, including Crypto, Guardians and Portfolio Service Services.
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, such as the capital of the establishment, the history of managers, shareholders’ rules and others.
Stricter requirements for casps
In the context, the Caps will have to invest in the compliance infrastructure and establish dedicated risk management teams to identify and manage a risk range. Providers will also have to establish a price monitoring system to alert a suspicious negotiation activity.
Turkish casps will also have to comply with strict reporting requirements, providing CMB timely information on their operations.
In addition, the new framework further strengthens the standards of Turkey’s anti-flow (LMMA) cryptography (LMMA), asking the Caps to save large data of transactions 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).
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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