The Capital Markets Board (CMB) has taken another important step towards the crypto asset sector. The Board has banned 10 crypto asset platforms currently undergoing license applications from accepting new customers until further notice. The decision was made at the CMB meeting on July 17, 2025, and the regulation was announced to the public via a note added to the "List of Active Users." With this decision, the aforementioned platforms will only be able to continue to mediate transactions for their existing users. The CMB stated, "The list published here was created to inform the public about the organizations that declared they would operate in accordance with the temporary Article 11 of Capital Markets Law No. 6362. In this context, the existence of the "List of Active Users" does not mean that the organizations on this list are authorized under the relevant legislation."
Platforms temporarily halting new user acceptance announced
The 10 platforms temporarily halting new customer acceptance include: Arbitex, GMS Global, Gümüş Global, Kriptrade, Mexc, Necen, Ovro, Rootech, Web3, and Yuex. Although these companies are in the process of obtaining licenses from the Capital Markets Board (CMB), they are subject to restrictions on customer acquisition due to the ongoing audit process. Existing users are exempt from this decision; therefore, there will be no interruption to trading or other services.
Being included on the "Operating" list does not automatically mean full authorization. This move by the CMB demonstrates that a mere declaration of intent is not sufficient for a license and that compliance with certain criteria is mandatory throughout the process.
Liquidation process initiated for 45 platforms
Another important update from the CMB is the list of crypto asset companies entering liquidation. According to the latest announcement, 45 companies have decided to cease operations and are included on the "In Liquidation Process" list. Notable names on this list include the Turkish representatives of international platforms such as Bitfinex, BingX, Coinbase, Bitget, and Nexo, as well as Coinlist and Coinstate.
While no official explanation has been released as to why these companies were placed in liquidation, it is believed that companies that failed to comply with licensing criteria or withdrew their applications were included on this list.
Sector Remainers and Custody Applications
The CMB's list includes a total of 60 organizations that are stated to continue their operations. The majority of these companies are platforms already active in Turkey with large user bases. Well-known brands such as Binance Turkey, BtcTurk, Paribu, Bitexen, and ICRYPEX remain on this list.
The number of institutions applying to provide custody services has also been clarified. Nine major institutions, including Akbank, Garanti BBVA, İş Bankası, and Yapı Kredi, have applied for crypto custody licenses to ensure the security of investor assets. This demonstrates that traditional financial institutions have reached a significant threshold in their integration into the crypto world. The Capital Markets Board (SPK) emphasized that the published lists are for informational purposes only, and that the organizations included on these lists are not yet officially authorized. Institutions will be required to apply for authorization from the SPK in accordance with the regulations that will come into effect. Therefore, the process is not yet complete.
