Turkey is taking a significant step forward in strengthening the country’s crypto regulations. In an astounding development, Turkey’s Capital Markets Board (CMB) has released regulatory updates focusing on crypto asset service providers (CASPs).
Notably, this move comes at a critical juncture, as the crypto market is facing increasing threats. As the need for robust crypto regulations has become more pressing than ever, more countries are launching new rules. Turkey’s latest regulatory update is a significant step in this direction, aiming to create a more secure and transparent crypto market.
Turkey Launches Crypto Regulations: CASPs on Focus
Today, Turkey released regulatory updates related to the licensing and operations of Crypto Asset Service Providers (CASPs). In particular, the Turkish Capital Markets Board has assumed comprehensive regulatory oversight of crypto asset platforms, encompassing licensing, operational supervision, and compliance enforcement for CASPs.
Interestingly, the CMB unveiled a regulatory framework for CASPs comprising crypto exchanges, custodians, and wallet services. The new rules allow the CMB to exercise comprehensive oversight, ensuring CASPs adhere to both domestic and international regulatory standards.
Nynu V Jamal
Nynu V Jamal is a passionate crypto journalist with three years of experience in blockchain, web3, and fintech spheres. She has established herself as a knowledgeable and engaging voice in the cryptocurrency and blockchain space. Her experience as an Assistant Professor in English Language and Literature has further added to her quest for crafting informative, well-researched, and accessible content.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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