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For Turkish crypto investors, a significant step has been taken with the publication of the crypto law in the Official Gazette. The Capital Markets Board (SPK) regulation has introduced measures that will directly impact cryptocurrency exchanges. As a result, global cryptocurrency exchanges will need to make some adjustments.
Binance and Turkey’s Crypto Law
With the enactment of the crypto law, everyone is curious about what will change for crypto investors in Turkey. This regulation did not directly target crypto investors but rather introduced rules that exchanges must comply with. Binance recently made statements about what will change, particularly in terms of advertising and marketing.
“As Binance, we closely follow legal developments in Turkey. We believe in the importance of collaborating with regulatory bodies to provide a compliant environment for all users and strongly support the development of a regulatory framework for our industry to protect the ecosystem. Therefore, we are taking all necessary measures to ensure legal compliance in Turkey and globally.
In line with these regulations, Binance.com will remain accessible from Turkey. However, there will be some updates to our services.
Language Options: The Turkish language option for Binance services will be gradually closed within 3 months.
Marketing Activities: All direct marketing activities targeting Turkish users will be completely halted.
We are aware that these changes will affect some of our users, but as always, the safety and experience of all our users remain our priority. Rest assured that all user funds are secure and deposit/withdrawal functions will remain available.”
