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.
Minimum capital requirements for CASPs
Under the framework, the minimum capital requirement for exchanges is $4.1 million, while custodians are required to have at least $13.7 million, international attorney Burcak Ünsal told Cointelegraph.
“Fixed assets, receivables, available for sale financial assets are excluded from the