Capital Markets Board (CMB) has reached the final stage of implementing secondary regulations for the cryptocurrency market. With the new law, a more comprehensive legal framework regarding cryptocurrencies was created in Turkey. Draft communiqués prepared by CMB will be published shortly. A safer environment will be provided in the domestic cryptocurrency ecosystem with secondary regulations.
Capital Adequacy Requirement Is Being Imposed on Service Providers
AA reporters Sea Flower Flap And Mertkan OruçAccording to the information compiled by CMB, CMB has prepared drafts regulating the establishment and activities of cryptocurrency service providers. In these drafts, companies’ capital adequacy, internal audit mechanisms and risk management processes were clearly defined.
Moreover cryptocurrency service providers While a minimum capital requirement was introduced for sustainable financial structures, a risk-based additional capital requirement was introduced for sustainable financial structures.
Leveraged Transactions Are Prohibited
With secondary regulations, the transaction rules of cryptocurrencies listed on the platforms have also been reshaped. In this context, cryptocurrencies leveraged transactionsto, derivative contractse or debt transactionsWhat will be banned from talking about?
Additionally, a listing committee will be formed to decide which cryptocurrencies will be listed and delisted on the platforms.
Additional Obligations Are Being Introduced in Technical Infrastructure
With the new regulations, additional obligations are imposed on the operational and technical infrastructures of cryptocurrency service providers. Companies manage user balances Central Registry Agency It will have to make regular reporting by integrating it with (MKK). Only companies that have an operating permit will be able to provide services in the sector.
Minister of Treasury and Finance Mehmet SimsekIn his statement to AA reporters, he stated that cryptocurrency regulations are compatible with international standards and are detailed. Şimşek said, “Our risk-based capital regulation is more comprehensive than the practices of other countries. “The regulations will increase investor security and be effective in preventing the financing of crime,” he said.
The new regulations aim to create a more secure and transparent structure in the domestic cryptocurrency ecosystem. By recording investor transactions, it is aimed to increase the efficiency of the market and ensure financial diversity.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
