Final days of the application process for crypto exchanges

The first comprehensive legal framework for crypto asset service providers was implemented through communiqués published on March 13. With these regulations, the establishment, operation, and activity principles of cryptocurrency exchanges were clarified. A deadline of June 30 was set for the implementation of most of the articles that entered into force, and it became mandatory for platforms to apply to the Capital Markets Board (SPK).

Platforms operating in the sector must complete their preparations by the application deadline to comply with the legal process. Experts point out that this process is a critical turning point for both user security and market stability.

COMMENTS AND STRATEGIES FROM CRYPTO EXCHANGES

Binance TR General Manager Mücahit Dönmez stated that an effective preparation process began in the ecosystem following the law that came into effect in July. Dönmez said, "Like all platforms, we are continuing our final preparations to submit our application. Our various assessments regarding our custody processes are still ongoing at this stage."

CoinTR CEO Ali Eşelioğlu stated that June 30 is a milestone for the sector. He emphasized that clear, binding regulations in line with international standards would contribute to user security and market stability. Eşelioğlu also added, "We completed our application on the morning of the day the process began. We view full compliance with the laws not only as a legal obligation but also as a responsibility toward our users."

Eşelioğlu noted that they are also in talks with subsidiaries of banks planning to provide cryptocurrency custody services, but that there have been delays in some approval processes. He reported that they aim to increase their collaborations with domestic custody institutions in the future.

Paribu Legal Director Mehmet Türkarslan also expressed that June 30 holds great importance for the sector and that transparency and oversight in the market will be strengthened thanks to the introduced regulations. Pointing out that applications could be rejected in case of non-compliance, Türkarslan stated, "We have carried out comprehensive improvements in our information systems and technological infrastructure. The new regulations are quite important in terms of making the crypto ecosystem in Turkey more transparent and secure."

With the latest regulations, innovations in areas such as cold and hot wallet security and MKK (Central Securities Depository) integration are also coming to the fore. Thus, the goal is to both protect investors and raise sectoral standards.