Turkey has introduced new regulations for the crypto sector with two key communiqués published in the Official Gazette on March 13, 2025.
These regulations, part of the broader amendments to the Capital Markets Law No. 6362, place crypto asset service providers under the strict oversight of the Capital Markets Board (CMB).
A minimum capital requirement is enforced, ensuring that only financially stable entities can operate. The regulations also stipulate that platform founders and partners must meet strict financial and reputational criteria, including an absence of bankruptcy history or regulatory violations.
The Communiqués introduce a detailed framework governing the establishment and operation of crypto asset service providers.
Additionally, the document recording systems, technological infrastructure, and independent auditing procedures are now subject to stricter scrutiny. The new laws also require proof-of-reserve audits, ensuring exchanges hold enough assets to cover customer deposits, thereby minimizing risks associated with insolvency.
To enhance platform integrity, service providers must establish robust internal audit, internal control, and risk management systems.
A significant part of this regulation is the capital adequacy requirement, ensuring that custodians maintain sufficient financial reserves to meet obligations.
Communiqué III-35/B.2 focuses on crypto custodians’ operational security and financial stability.
Platforms must maintain multi-signature authentication for asset transfers, significantly reducing the risks of unauthorized withdrawals or hacks.
To prevent systemic risks, custodians must regularly report their financial status and security protocols to the CMB.
Crypto custodians must also comply with international cybersecurity standards, which mandate cold storage solutions to protect assets from cyber threats.