The Turkish Capital Markets Board (CMB) published two regulatory documents on March 13 that establish new rules for crypto asset service providers in Turkey. These regulations apply to crypto exchanges, custodians, and wallet service providers operating throughout the country, according to a report from Bitcoin news agency BTC Peers.

The CMB now holds full regulatory control over crypto asset platforms in Turkey. This includes responsibility for licensing crypto asset service providers (CASPs), overseeing their operations, and ensuring compliance with both national and international standards.

The regulations set specific requirements for establishing crypto services in Turkey. Companies must meet minimum capital requirements, executives must pass background checks, and there are new rules regarding shareholders.

Turkey's regulatory changes come as other nations advance their own crypto frameworks. In Spain, banking giant BBVA recently received approval to offer Bitcoin and Ethereum trading to clients, following the European Union's MiCA regulation taking effect across member states.

Under the new framework, CASPs must build compliance infrastructure and form dedicated risk management teams. They are required to create price monitoring systems that can alert authorities to suspicious trading activity.

Turkish crypto service providers now face strict reporting requirements. They must provide the CMB with timely information about their operations, and record extensive transaction data including:

• Canceled transactions
• Unexecuted transactions
• Other significant transaction information

These rules build upon earlier crypto anti-money laundering regulations from December 2024, which required users to share identifying information with CASPs for transactions exceeding 15,000 Turkish liras ($409).

According to official documents, Turkey's updated crypto regulations follow global standards, mirroring approaches established by Europe's Markets in Crypto-Assets Regulation (MiCA) and the U.S. Securities and Exchange Commission.

Turkey's regulatory development coincides with growing corporate Bitcoin investment activity. MicroStrategy maintains an aggressive acquisition strategy, with Polymarket traders assigning a 97% probability the company would purchase additional Bitcoin in early February. This follows their January 27 acquisition of 19,157 Bitcoin worth approximately $1.1 billion, bringing their holdings to 471,157 Bitcoin. The company's long-term holding approach contrasts with broader institutional adoption patterns.