Turkey has intensified its regulatory framework for crypto asset service providers (CASPs) by introducing new rules that govern their licensing and operations.
The Capital Markets Board (CMB) of Turkey has taken a leading role in overseeing these regulations, ensuring compliance with both domestic and international standards. This move is part of Turkey’s broader effort to enhance transparency and security in the crypto sector.
The newly released regulatory framework targets CASPs, including crypto exchanges, custodians, and wallet services. Under the new rules, these entities must adhere to strict licensing requirements and operational guidelines enforced by the CMB. The regulatory oversight extends to transaction monitoring, risk assessment, and compliance with anti-money laundering (AML) regulations. These measures aim to curb illicit activities while fostering a secure environment for crypto transactions in Turkey.
Additionally, Turkey’s regulatory update strengthens the country’s AML laws, initially implemented in December 2024. Under the previous mandate, CASPs were required to disclose user identities for transactions exceeding 15,000 Turkish liras (around $409). The latest rules further enhance these measures by obligating CASPs to maintain comprehensive transaction records, including details of canceled and unexecuted transactions.
Turkey’s move aligns with global efforts to establish stricter crypto regulations. Countries like El Salvador and Paraguay have recently collaborated on crypto compliance frameworks, while South Korea’s Financial Intelligence Unit is tightening its AML laws. In the United States, regulatory discussions under President Donald Trump’s administration aim to reshape the crypto landscape to bolster security and growth.
With Turkey’s latest regulatory push, the country is reinforcing its commitment to building a transparent and well-regulated crypto ecosystem. As global crypto regulations continue to evolve, Turkey’s approach may serve as a model for other nations looking to strike a balance between innovation and compliance.
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