Licensing for Crypto-Asset Platforms
Operating a crypto-asset platform in Türkiye now requires authorisation from the Capital Markets Board (CMB). We prepare your applications for incorporation and operating permits, coordinate meeting the authorisation requirements from the shareholding structure to information systems, and run the process before the CMB from start to finish.
What is a crypto-asset platform?
A crypto-asset platform is an institution through which one or more of the following are carried out: the purchase and sale, initial sale or distribution, exchange and transfer of crypto-assets, and the custody these require. The 2024 amendment to the Capital Markets Law defined these institutions as crypto-asset service providers and made them subject to CMB authorisation.
To be authorised, the company must be incorporated as a joint stock company, meet minimum capital and equity requirements, have shareholders and managers who meet the qualifications required by the legislation, and have information systems and technological infrastructure that comply with the prescribed standards.
Scope
- Licensing, regulatory and compliance processes for crypto-asset platforms
- Preparing and following up CMB applications for incorporation and operating permits
- Structuring the shareholding, the board of directors and key managers in line with the authorisation requirements
- Coordination of service provider authorisation processes under MiCA in the European Union
How We Work
- Assessing the company’s business model and the services it will offer according to the type of authorisation
- Identifying gaps in shareholding structure, capital, management and organisational requirements
- Preparing the application file, internal regulations and policies
- Coordinating with technical teams on information systems audits and technical infrastructure requirements
- Submitting the application to the CMB, answering requests for additional information and moving to operation
Team
Frequently Asked Questions
Which companies must obtain authorisation from the CMB?
Crypto-asset service providers offering the purchase and sale, exchange, transfer or custody of crypto-assets in Türkiye. A company that only buys and sells crypto-assets on its own account is assessed differently from a platform offering these services to customers; the first step is therefore to determine which authorisation the business model requires.
Can a company with foreign capital obtain authorisation?
Yes. Foreign capital is not an obstacle in itself; however, the company must be incorporated in Türkiye as a joint stock company, its shareholders and managers must meet the conditions required by the legislation, and the other authorisation requirements must be met.
What should we watch out for when preparing the application?
Besides the legal preparation, the requirements on information systems and technological infrastructure call for separate technical preparation and documentation. Starting this work in parallel with the application file reduces requests for additional information and shortens the process.
Can an authorisation obtained in Türkiye be used to operate in the European Union?
No. Operating in the European Union requires a separate authorisation from a member state under MiCA. Once obtained, that authorisation allows services to be offered in other member states through a notification procedure.
Would you like to discuss this service? Schedule a meeting with us — the first meeting is free of charge.
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