Turkiye: Implemented Bill on Amendments to the Capital Markets Law

On 2 July 2024, the Law on Amendments to the Capital Markets Law entered into force in Turkey. The Law establishes a licensing and registration requirement for crypto asset service providers, including digital payment providers and platform intermediaries. The Law mandates that these entities obtain licenses from Turkey's Capital Markets Board (CMB) to operate in the country. Additionally, the Law 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.