Turkey is advancing its cryptocurrency regulations with new rules for crypto asset service providers (CASPs).
On March 13, Turkey’s Capital Markets Board (CMB) published two regulatory documents regarding the licensing and operations of CASPs, including crypto exchanges, custodians and wallet service providers.
The framework grants the CMB full oversight of crypto platforms, ensuring compliance with national and international standards.
An excerpt from the title page of the CASP regulation document by the CMB. Source: Official Gazette
It also sets standards and requirements for establishing and providing crypto asset services in Turkey, covering establishment capital, history of executives, shareholder rules and others.
Stricter requirements for CASPs
Under the framework, CASPs will be required to invest in compliance infrastructure and establish dedicated risk management teams to identify and manage a range of risks. The providers must also establish a price monitoring system to alert suspicious trading activity.
Turkish