The Second CMB Principal Decision On Cryptocurrency Asset Platforms Has Been Published

On 2 July 2024, with the Law on Amending the Capital Markets Law numbered 7518, published in the Official Gazette numbered 32590, amendments were made to various articles of the Capital Markets Law numbered 6362 ("CML") regarding cryptocurrency assets. Primarily, cryptocurrency asset service providers ("CASPs") operating or set to operate in Türkiye were brought under the scope of the CML and subjected to the regulatory and supervisory authority of the Capital Markets Board ("CMB"). Following this, the CMB published an announcement on its website dated 2 July 2024 ("Announcement"), explaining the procedures to be followed by CASPs.

Since the deadline, for CASPs to submit their applications to the CMB within the framework of the Announcement has ended on 2 August 2024, the CMB issued the principal decision i-SPK.35.B (dated 8 August 2024 and numbered 42/1259) published in its bulletin dated 8 August 2024, to shed light on the subsequent process.