According to Foresight News, the Capital Markets Commission of Turkey (SPK) stated that since the regulatory provisions were updated on August 9, the number of companies applying for crypto licenses has increased from 47 to 76, including new companies such as Coinbase, KuCoin and Gate.io. SPK stated that being included in the "List of Operating Companies" is not equivalent to authorization, and companies must still seek formal approval after the promulgation of secondary legislation.
Foresight News previously reported that Turkey's Capital Markets Law Amendment came into effect on July 2, which aims to provide a regulatory framework for crypto asset service providers in Turkey. Individuals and legal persons who operate as crypto asset service providers without authorization will face 3 to 5 years in prison.