The Capital Markets Board (CMB) will terminate the marketing and promotional activities of foreign cryptocurrency platforms operating abroad in Türkiye until October 2.
So far, 80 applications have been made to the Capital Markets Board.
According to the information compiled by AA correspondent, the law regulating cryptocurrency markets in Türkiye entered into force on July 2, published in the Official Gazette.
With the said law, the authority to regulate crypto markets was given to the CMB, while platforms that will provide services in this field must obtain an operating permit from the board.
With the regulation, foreign cryptocurrency platforms that provide services to residents in Türkiye are given a 3-month transition period for their activities here, and this period will expire on October 2.
Promotion will not be possible for residents in Türkiye
Bilkent University Faculty of Law Faculty Member Assoc. Prof. Dr. Pınar Çağlayan Aksoy stated that foreign-based platforms that operate for residents in Türkiye and have not applied for an operating permit must terminate their services until October 2.
Aksoy said, “The CMB published a statement on its website on July 2, when the relevant law entered into force, stating that foreign-based crypto asset service providers must terminate their activities for residents in Türkiye by October 2 at the latest.”