The critical date has arrived for platforms wishing to operate in the cryptocurrency market in Turkey. In accordance with the regulations published by the Capital Markets Board (CMB) on March 13, all cryptocurrency service providers (CSPs) must complete their official applications by today, June 30, 2025. Exchanges that fail to submit their applications will not be able to operate legally in Turkey.
The circulars prepared by the CMB cover a wide range of regulations, from the establishment of cryptocurrency exchanges to their operational processes, storage obligations, and security standards. While most of the circulars will come into effect today, the application process will also be officially completed.
Capital requirements and storage rules for cryptocurrency platforms
Under the new regulations, cryptocurrency exchanges must have a minimum capital requirement of 150 million TL to obtain an operating license. For institutions providing custody services, this amount is set at 500 million TL. Platforms must hold 95% of user assets in these authorized custody institutions; only 5% can be kept in their own wallets. Additionally, 3% of assets must be set aside as liquid reserves, and no single cryptocurrency asset may exceed 20% of the total reserves. The SPK has also dedicated a separate section to wallet security, mandating that keys be stored within Turkish borders and that encryption meet TÜBİTAK standards.
Platforms prepare for compliance and last-minute adjustments
Major domestic cryptocurrency exchanges involved in the SPK application process have also completed their preparations in recent weeks. Leading platforms such as CoinTR, Paribu, and Binance TR reviewed their technical infrastructure, revised their internal systems, and submitted their applications on time to comply with legal regulations.
During this process, significant investments were made in areas such as capital adequacy, information system security, and storage solutions. Many platforms have completed comprehensive technical compliance efforts, ranging from cold and hot wallet security to integration with the Central Registry Agency (MKK).
Acting in line with the conditions set forth by the new regulations, these companies aim to make a strong entry into the new era in terms of both user security and systemic transparency. The compliance process is a critical development for obtaining operating licenses. However, it is also seen as a strategic step in terms of increasing Turkey's global competitiveness in the crypto ecosystem.
Exchanges will submit regular reports
Under the new system established by the SPK, exchanges will now be required to submit regular reports on the 7th, 15th, 23rd, and last day of each month. This regulation aims to prevent potential market manipulation and enable users to trade in a safer environment.
