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Turkey: fintech & payments regulation

Regulated

Turkey VASP licensing under 2025 CMB Communiqués; strict capital and operational rules

Lead regulator:
Capital Markets Board of Turkey (CMB)
Key law:
Communiqué Regarding Principles on the Establishment and Operation of Crypto Asset Service Providers (2025)
Last updated:
2026-07-12

The Capital Markets Board of Türkiye (CMB) has established a comprehensive licensing regime for crypto asset service providers (CASPs) through two key Communiqués issued in April 2025. These regulations mandate that entities conducting trading, custody, and initial sales of crypto assets must obtain a license from the CMB. The framework imposes strict eligibility criteria for founders and shareholders, requiring transparent ownership structures and clean legal records.

Licensed CASPs are subject to rigorous operational procedures and capital adequacy requirements designed to ensure financial stability and consumer protection. The regulations explicitly prohibit certain activities while defining the permissible scope of services for licensed entities. This marks a shift from previous unregulated or loosely supervised environments to a formalized, high-compliance regulatory structure.

The CMB retains primary supervisory authority over these entities, enforcing independent audits of information systems and maintaining investor compensation mechanisms. The regulatory direction emphasizes transparency, robust governance, and the segregation of client assets to mitigate risks associated with crypto asset volatility and operational failures.

Who regulates

  • Capital Markets Board of Turkey (CMB)

    Primary supervisor and licensing authority for crypto asset service providers and capital market entities.

    [1][2]

Core laws & rules

  • Communiqué Regarding Principles on the Establishment and Operation of Crypto Asset Service Providers (2025)

    Establishes the licensing framework, eligibility criteria for founders/shareholders, and operational conduct rules for CASPs.

    [1]

  • Communiqué Regarding Operating Procedures and Capital Adequacy of Crypto Asset Service Providers (2025)

    Regulates specific services (trading, custody, initial sales), operating procedures, capital adequacy requirements, and prohibited activities for licensed CASPs.

    [2]

Licensing & registration

  • Crypto Asset Service Provider (CASP)

    Mandatory licensing for entities engaging in trading, custody, and initial sales of crypto assets. Requires strict founder/shareholder eligibility and transparent ownership. Timeline: April 2025

    [1][2]

Restrictions & warnings

  • Prohibits certain unspecified activities for licensed CASPs. Mandates independent audits of information systems and strict segregation of assets.

    [2]

Direction of travel

  • The regulatory environment is tightening with the introduction of specific capital adequacy and operational standards for crypto assets, aligning with broader capital market integrity goals.

    [2]

Sources

  1. Communiqué Regarding Principles on the Establishment and Operation of Crypto Asset Service Providers · 2025-04-25
  2. Communiqué Regarding Operating Procedures and Capital Adequacy of Crypto Asset Service Providers · 2025-04-25

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This guide is compiled automatically from 2 primary-source documents published by Turkey's regulators, reviewed by RegAlert, and refreshed monthly (last updated 2026-07-12). It is not legal advice — always confirm requirements with the regulator or local counsel before acting.