The long-awaited crypto asset regulations in Turkey were published in the Official Gazette dated March 13, 2025. These regulations prepared by the Capital Markets Board (SPK) bring significant changes to the activities of crypto exchanges, investor security and capital requirements. Here are the new rules that will directly affect the sector:
150 Million TL Capital Requirement for Crypto Exchanges, 500 Million TL Capital Requirement for Depository Institutions
According to the new regulation, crypto exchanges that will operate in Turkey will need to be established with a capital of at least 150 million TL. The capital requirement for companies that will provide crypto asset custody services has been determined as 500 million TL. This change aims to strengthen the financial structure of companies and ensure that investor funds are stored in a more secure environment.
Exchanges Will Establish Listing Committees, Cryptocurrencies Will Be Listed According to Certain Criteria
Previously, exchanges could determine the cryptocurrencies to be listed according to their own policies. However, according to the new regulation, each exchange will have to establish a listing committee consisting of at least three people. This committee will decide on the listing or delisting of crypto assets. This will ensure that the cryptocurrencies added to the exchanges meet certain criteria.
Leveraged Transactions Banned in Turkey, But Continue on Global Exchanges
Within the scope of the new regulation, leveraged transactions are banned on cryptocurrency exchanges operating in Türkiye. In other words, leveraged transactions will not be possible on exchanges such as Binance TR, OKX Turkey, Paribu and BTCTurk. However, this ban only applies to exchanges operating in Turkey. Leveraged transactions continue on Binance Global, OKX Global and other international exchanges.
For example: You cannot make leveraged transactions on Binance TR, but you can on Binance Global. The regulation in Türkiye only covers exchanges supervised by the CMB and aims to prevent investors from taking excessive risks.
95% of Customer Assets to be Held in Custody Institutions
Cryptocurrency exchanges will be required to keep at least 95% of the assets for which investors prefer custody services in licensed custody institutions. Exchanges will only be able to keep a maximum of 5% of customer assets in their own facilities. In addition, exchanges have been made obliged to keep 3% liquid reserves for assets they keep outside of custody.
This regulation aims to increase the security of investor assets and create a more robust system against possible bankruptcy or cyber attack risks.
Bank Account Requirement Introduced
According to the new regulation, users will only be able to deposit and withdraw money to cryptocurrency exchanges through their own bank accounts. This regulation was introduced to prevent money laundering and illegal financing activities.
In addition, it has been made mandatory for the balances in customer accounts to be paid within 1 business day at the latest upon request. In this way, investors will be able to withdraw their money quickly.
Rescue Plan Requirement for Crypto Exchanges
Crypto exchanges will be required to prepare a "rescue plan" for possible risks such as cyber attacks, technical failures or financial crises. This plan will be created to minimize asset losses of the platforms and prevent customer grievances.
In addition, if exchanges stop trading due to technical issues, they are required to notify their customers in writing or electronically.
Overseas Transactions of Users in Turkey Are Not Within the Scope of the Regulation
The new regulations do not cover transactions made by residents of Turkey through exchanges abroad. In other words, if an investor opens an account and makes transactions on a crypto exchange abroad of their own free will, they will not be affected by these regulations.
However, if exchanges abroad open a business in Turkey, create a Turkish website or promote in Turkey, the CMB may include these platforms within the scope of the regulation.
Tighter Control Coming to the Crypto Ecosystem
These new regulations aim to make the cryptocurrency ecosystem in Turkey more secure, transparent and stable. In particular, increasing capital requirements, safeguarding customer funds, banning leveraged transactions and the listing committee requirement will ensure that the sector gains a more robust structure. While these regulations mean a safer investment environment for investors, they will also bring stricter legal requirements for crypto exchanges.
Author: Besim Şen
