The Turkish Capital Markets Board (SPK) banned access to 108 websites, including over 50 unlicensed cryptocurrency exchanges.
In its weekly bulletin, the SPK announced that it had taken legal action against websites offering unauthorized cryptocurrency asset services or facilitating leveraged transactions for Türkiye-based users, in violation of the relevant provisions of the Capital Markets Law.
As a result, access to 108 websites has been blocked, including more than 50 cryptocurrency exchanges, with the most well-known ones listed as follows:
- BitMEX
- Phemex
- MEXC (MEXC Global)
- HTX (Huobi)
- CoinEx
- BitMart
- Deribit
- Poloniex
- Changelly
- StormGain
Legal framework for cryptocurrency enacted in July
The first legal framework for cryptocurrency assets in Türkiye was established in July with the enactment of the “Law on Amending the Capital Markets Law.”
This law grants SPK the authority to regulate cryptocurrency markets and requires platforms offering services in this area to obtain operational licenses from the board.
Under the law, activities such as establishing a physical office in Türkiye, creating Turkish-language websites, or directly promoting cryptocurrency asset services to individuals or entities based in Türkiye are deemed operations targeting Türkiye residents.
Foreign cryptocurrency platforms serving Türkiye residents were also given a three-month transitional period to comply with these regulations.
77 companies maintain their operations
SPK data shows that 77 companies have declared themselves as operating cryptocurrency asset service providers.
Additionally, 14 companies stated they would cease operations, while applications from 64 companies were either rejected or withdrawn.
It is important to note that being listed as an “operating entity” in SPK’s decisions does not imply authorization by the Board under existing regulations. These organizations must apply for authorization following the implementation of secondary legislation.
