Turkey’s cryptocurrency landscape is witnessing a significant shift as major global exchanges express interest in obtaining licenses to operate within the country. The latest update from Turkish authorities reveals an expanded list of companies seeking registration, with industry giants oinbase">Coinbase and KuCoin joining the ranks of those eyeing the Turkish market.
The number of organizations pursuing licensing has surged from 47 to 76, demonstrating the growing appeal of Turkey’s crypto ecosystem. This influx of interest follows Turkey’s recent moves to provide greater regulatory clarity for cryptocurrency exchanges and service providers. The crypto industry has widely praised these regulatory efforts as a positive step, encouraging international digital asset platforms to consider entering the Turkish market.
Turkey’s prominence in the cryptocurrency space is underscored by a Chainalysis report from September 2023, which positioned the country as the leader in transacted cryptocurrency value within the Middle East and North Africa region. This status has evidently not gone unnoticed by major players in the industry, with exchanges like Binance, Bitfinex, and OKX already expressing interest in obtaining licenses.
The Capital Markets Board of Turkey has made this information public, allowing transparency regarding organizations that have declared their intent to become licensed and adhere to the Capital Markets Law No. 6362. Under the new regulatory framework, crypto providers aiming to offer services in Turkey must implement specific measures, including reporting crypto seizures and maintaining legal cooperation. This regulatory approach reflects a global trend of increasing oversight in the cryptocurrency sector, with different jurisdictions implementing various requirements for exchanges to operate legally and responsibly.
