Turkiye: Adopted Bill on Amendments to the Capital Markets Law

On 26 June 2024, the Bill on Amendments to the Capital Markets Law was adopted by the Grand National Assembly. The Bill establishes a licensing and registration requirement for crypto asset service providers, including digital payment providers and platform intermediaries. The Bill mandates that these entities obtain licenses from Turkey's Capital Markets Board (CMB) to operate in the country. Additionally, the Bill outlines a classification of cryptocurrencies and projects, gives CMB oversight power over compliance, asset protection and dispute resolution, and establishes a ban on foreign crypto brokers to promote a locally regulated ecosystem.