1. What Are Crypto Asset Service Providers?

As the crypto market expands, Türkiye has introduced new rules for companies operating in this field. Crypto asset service providers include trading platforms, custody service providers, and other entities that offer services related to crypto assets.

To operate legally, these companies must obtain authorization from the Capital Markets Board of Türkiye (SPK). The SPK reviews applications, grants licenses to qualified companies, and regularly monitors their activities. Entities that fail to meet the requirements may be suspended or removed from the market.

2. Why Is Licensing Important?

The crypto market is more volatile and fast-moving compared to traditional financial markets. For this reason, strict rules and licensing processes help build trust and protect investors.

Every provider must apply for specific licenses depending on the type of service they offer. For example, a company providing custody services must meet different technical and security standards than a trading platform. This structure allows authorities to assess each activity individually and ensures better investor protection.

3. Legal Structure and Corporate Form

Under the new regulatory framework, crypto asset service providers must be established as joint stock companies (anonim şirket). This structure ensures stronger corporate governance, clearer liability rules, and more effective supervision.

For investors, this means greater confidence that they are dealing with regulated entities with transparent corporate structures and stricter oversight.

4. The Role of Crypto Asset Platforms

Crypto asset platforms are at the center of the market. They enable users to buy and sell crypto assets, transfer funds, and use custody services.

These platforms must also obtain a license from the SPK and operate as joint stock companies. Their legal position is similar to that of brokerage firms in traditional finance, and they are subject to comparable oversight and compliance requirements.

5. Looking Ahead

The regulatory framework in Türkiye is largely aligned with the European Union’s MiCA Regulation, which focuses on licensing, corporate structure, and investor protection. In the future, banks and brokerage firms could also be allowed to operate in this field. This would strengthen the market by involving well-established financial institutions, increase competition, and enhance overall trust in the ecosystem.