Turkey ranks among the top countries in the world in terms of trading volume of cryptocurrencies and products based on cryptocurrencies. The Law on licensing and regulating the activities of cryptoasset service providers (cryptocurrency exchanges) in Turkey and related sub-regulations are expected to be enacted soon. The licensing of cryptoasset service providers and the supervision of their activities are to be conducted by the Capital Markets Board.
The licensing process of financial institutions in Turkey is subject to highly detailed regulations. Similarly, cryptocurrency service providers planning to be operational in Turkey will be subject to strict regulations. Due to the risks and uncertainties regarding cryptoassets, it is anticipated that services related to cryptoassets will be provided under fully compliant joint stock companies that have sound corporate and financial structure.
In license applications, it is necessary to fulfill all the conditions specified in the legislation which entail preparing detailed documents regarding the company, corporate governance, financial structure, information systems, partners and managers. The fulfillment of all the requirements set by the legislation and the preparation of a complete application file are fundamental for the conclusion of a swift and successful license application.
It is of particular importance for the prestige (and survival) of the cryptoasset service providers that are currently operating to become fully compliant with the regulations and apply for a license as soon as possible.
Our consulting team, comprising senior experts with outstanding sector experience, has full grasp of licensing stages and is ready to assist you throughout the whole journey of a successful and prompt licensing. Below are the main licensing services we offer: