Turkey Strengthens Crypto Rules, Empowers CMB for Oversight
Turkey has introduced new cryptocurrency regulations, granting the Capital Markets Board (CMB) full oversight of crypto platforms.
The regulations set obligations for crypto asset service providers (CASPs) to meet before operating, including the requirement to insure user assets. This move follows Turkey’s efforts to remove itself from the Financial Action Task Force (FATF) gray list, which was partially due to a lack of crypto laws. New rules also impose capital requirements, mandate clean legal records for founders, and empower the CMB to enforce penalties for non-compliance, including revoking operating permits.
Clever Robot News Desk 15th March 2025
