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Turkey took a significant step this year regarding cryptocurrency regulations, and this change was published in the Official Gazette. Thus, it became law, and cryptocurrency companies wishing to serve Turkish citizens are required to make the necessary applications. Companies based in Turkey and those meeting many collateral conditions will be able to operate in Turkey.
64 Cryptocurrency Companies Will Not Receive Approval
There are no highly popular cryptocurrency platforms among them, but if you use one of these, you must be aware of the risks under the new regulation. Applications of 32 out of 64 companies were dismissed. Another 32 companies’ applications were not processed. The Capital Markets Board (SPK) provided the details in its announcement.
“In accordance with article (2) of the “Transition and Compliance Provisions” section of the Board’s Principle Decision No. 42/1259 dated 08.08.2024, published in Bulletin No. 38 dated 08.08.2024, the applications of the platforms listed below have been dismissed due to incomplete or insufficient submission of the explanations and documents requested in articles (3) and (4) of the document list Annex/1 in our announcement dated 02.07.2024.
In accordance with article (1) of the “Transition and Compliance Provisions” section of the Board’s Principle Decision No. 42/1259 dated 08.08.2024, published in Bulletin No. 38 dated 08.08.2024, the applications of the platforms listed below, which declared that they would continue their activities but did not have any customers and/or custody balances belonging to customers as of the application date, have not been processed.”
If you want to confirm whether the platform you use is on the list, you can reach this page from the SPK link.
There are currently 76 different cryptocurrency platforms operating in Turkey. Among them are many brands such as Binance TR, OKX, İş Bankası AŞ (Custody Application), and Coinbase.
