Announcement on Crypto Asset Service Providers

The Capital Markets Board (the CMB) published the Announcement on Crypto Asset Service Providers today.

The deadlines and relevant steps regarding the priority issue “Platforms’ (i.e., CEXs) obtaining permission from the CMB” have been confirmed as follows:

1.1 Those who have been carrying out crypto asset service provider activities as of July 2, 2024 and have the will to continue to do so, will be required to comply with the provisional Article 11, together with the information, documents and explanations in Annex/1 and Annex/2 shared in the annex of the announcement, until August 2, 2024. They are required to submit their declarations in accordance with the first paragraph to the CMB in writing.

1.2 The organizations that want to start their activities between July 2, 2024 and the date when the secondary regulations to be issued by the CMB will come into force, should also be informed of the Provisional Article 11, along with the information, documents and explanations in Annex 1 and Annex 2, before starting their activities. They are required to submit their declarations in accordance with the first paragraph of the Article to the CMB in writing.

2. As of July 2, 2024, those who have been carrying out crypto asset service provider activities and will decide to liquidate because they do not have the will to continue this activity, must submit a statement stating that “they will take a liquidation decision and will not accept new customers during the liquidation process” until August 2, 2024, in Annex/2 in the announcement annex. They are required to submit their explanations on how they will carry out the liquidation process to the CMB in writing, using the form in. These organizations must take a decision to liquidate by October 2, 2024.

Those falling into these two categories (1 & 2) will be listed in two separate lists: “List of Those Active” and “List of Those Who Declared Liquidation” under “Institutions/Crypto Asset Service Providers” tab on the CMB’s website.

Foreign platforms (with headquarters abroad) must terminate their activities for people residing in Türkiye by October 2, 2024 at the latest, unless they receive permission from the CMB to operate in Türkiye.