Turkey’s Capital Markets Board has issued an update on crypto asset service providers following new regulations. The provisional lists include 47 operational companies and three that are planning to liquidate. Current crypto service roviders are required to apply for permits or proceed with liquidation by specified deadlines, with legal repercussions for noncompliance.

Turkey’s Capital Markets Board Updates Public on Crypto Asset Service Providers.

47 Companies Apply to Operate in Turkey Under New Crypto Regulations

Turkey’s Capital Markets Board has issued an update on crypto asset service providers following new regulations. The provisional lists include 47 operational companies and three that are planning to liquidate. Current crypto service roviders are required to apply for permits or proceed with liquidation by specified deadlines, with legal repercussions for noncompliance.

Turkey’s Capital Markets Board Updates Public on Crypto Asset Service Providers

The Capital Markets Board of Turkey, the country’s financial regulatory and supervisory agency, made an announcement last week, clarifying the status of crypto asset service providers following the enactment of the “Law on Amendments to the Capital Markets Law” on July 2.

The announcement includes two lists. The first list features 47 entities that have submitted applications to the Capital Markets Board (CMB). They are currently operating under the Capital Markets Law and are active in the financial technology sector. However, the regulator clarified that being on the list does not imply official authorization under the relevant laws. This provisional list includes a range of companies, including prominent crypto exchanges such as Bitfinex, Binance Turkey, Btcturk, and Okx.

The second list includes three companies that have declared their intention to liquidate. Institutions lacking complete information or under ongoing investigation are not considered operational and are therefore not listed.

The announcement also outlines new regulations for crypto asset service providers in Turkey. Effective July 2, crypto asset service providers must comply with regulations set by the CMB. Providers already operating as of this date must either apply for an operating permit within one month or decide to liquidate within three months, ceasing to accept new customers during this process. Those failing to comply may face penalties, including imprisonment and fines. Foreign-based providers targeting Turkish residents must terminate such activities by Oct. 2. ATMs and similar devices facilitating crypto transactions must also cease operations by this deadline. Noncompliance with these regulations will result in legal action under Articles 99/A and 109/A of the amended law.