Popular among them crypto- The Capital Markets Board announced access bans for more than 30 companies, including stock exchanges. We mentioned that the CMB, Türkiye’s version of the SEC in the USA, decided to block access to the MEXC exchange yesterday. In the daily press release, it was revealed that many more platforms were affected by this situation.
Obstacle to Cryptocurrency Exchanges
dozens cryptocurrency By announcing that the stock exchange was blocked, CMB took an expected step. This year, Türkiye introduced some obligations for cryptocurrency exchanges and announced that those who did not comply with them would be blocked. Many global exchanges such as Binance had already launched local companies and platforms where they provide their own crypto services in Türkiye a long time ago.
The following details were included in the sanctions, measures and prohibitions section of the daily bulletin;
“The addresses of the websites that have been determined to engage in unauthorized crypto asset service provider activities via the internet for persons residing in Turkey and the websites that have been determined to carry out leveraged transactions abroad are given below. In order to prevent access to the said websites, Article 99/A of the Capital Markets Law is required. It has been decided to take the necessary legal actions in accordance with the third paragraph and the fourth paragraph of Article 99.”
on the list Bitmex It includes the names of many cryptocurrency platforms, from the stock exchange to Justin Sun’s HTX. Users with assets on these exchanges confirm that they can access their balances via mobile application or VPN. However, if the ban expands, there is a possibility that these channels will also be limited.
Cryptocurrency Regulations
Many countries in Türkiye and the rest of the world are creating rules for cryptocurrency exchanges. Although this situation caused difficulties for the stock exchanges, these structures, which have existed in the gray area for years, had unity regarding the upcoming process. Many exchanges have been establishing and expanding their legal and compliance units for 1-2 years.
CMB The latest move by has generally seemed to hit lesser-known exchanges. Since Coinbase had already stepped back, major exchanges also started to operate with permission by creating their local companies. In the coming period, we will see a new process in which detailed audits of the stock exchanges will be carried out.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that crypto currencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
