CMB's Principal Decision On Crypto Asset Platforms Is Published

In the Official Gazette dated 2 July 2024 and numbered 32590, the Law on Amendments to the Capital Markets Law No. 7518 ("Amendment Law") introduced additions concerning crypto assets to various articles of the Capital Markets Law No. 6362 ("CML"). Essentially, crypto asset service providers ("CASPs") operating or intending to operate in Türkiye were brought under the scope of the CML, thus subjecting them to the regulatory and supervisory authority of the Capital Markets Board ("CMB"). Following this, CMB published an announcement ("Announcement") on its website dated 2 July 2024 to outline the procedures that needs to be fulfilled by CASPs.

As the deadline for CASPs to submit their applications to the CMB in accordance with the Announcement has elapsed, the CMB issued a principle decision, numbered i-SPK.35.B (dated 08/08/2024 and numbered 42/1259) ("Principal Decision") and published in its bulletin No. 2024/38 dated August 8, 2024, to provide guidance for the