The regulatory work of the Crypto Assets ecosystem began last year, with the first regulation known as the "Crypto Assets Law" being introduced. According to this regulation, the Capital Market Committee (SPK) has been granted regulatory authority over the Crypto Assets ecosystem. Following the first legal framework, an announcement known as the secondary regulation was released in the first quarter of this year and has been published in the official gazette.

These regulations clarify the procedures and principles for the establishment and operation of Crypto Assets exchanges, giving institutions until June 30 to apply. According to these regulations, institutions that wish to provide services to residents in Turkey must apply to the Capital Market Regulatory Authority (SPK) in order to conduct business.
In the notice, the exchange's minimum capital limit is set at 150 million lira, while the custodian is set at 500 million lira. According to data released by SPK, a total of 88 institutions have applied to provide services as Crypto Assets service providers or custodians, while 17 institutions have submitted a liquidation statement to SPK indicating that they will not conduct business. #HotTopicDiscussion#