The deadline given by the CMB to Cryptocurrency Exchanges is ending tomorrow! The first applications have arrived!

As is known, in Turkey, at the beginning of July, crypto para Law No. 518, known as the “Law on Amendments to the Capital Markets Law” It entered into force on 02.07.2024 by being published in the Official Gazette.

Cryptocurrency service providers operating or to operate in Turkey within the scope of this law, Capital Markets Board (CMB) was placed under the authority of regulation and supervision.

Again, within the scope of this law, a one-month preliminary application and transition period was granted to cryptocurrency exchanges that wanted to operate in Turkey.

In this context; As of 02.07.2024, platforms that are operating as crypto asset service providers and wish to continue operating are required to submit appropriate declarations, together with information, documents and explanations, until 02.08.2024. SPKIt was mandatory to submit them in writing to .

Likewise, platforms that were operating as crypto asset service providers as of 02.07.2024 but did not wish to continue their activities were required to submit a written statement to the CMB by 02.08.2024 stating that they would make a liquidation decision and would not accept new customers during the liquidation process, along with explanations on how they would conduct the liquidation process.

Deadline for Cryptocurrency Exchanges Expires Tomorrow, First Applications Have Arrived!

The transition period and the period granted to cryptocurrency exchanges will end on August 2. European-based cryptocurrency exchange WhiteBIT TR, It has applied to the CMB to operate as a crypto service provider compliant with the crypto law in Turkey.

According to DHA, the stock exchange named WhiteBIT TR reported that it applied to the CMB.

In the statement made by WhiteBit TR, “Within the framework of the new regulations in Turkey, we are following all necessary processes to continue our activities and ensure the security of our users at the highest level in accordance with Articles 35/B and 35/C of the CMB Law.” It was stated that the statements were included.

In the news, WhiteBIT TR CEO Volodymyr Nosov said, “As one of the leading exchanges in Europe, we have emphasized the importance we attach to the Turkish market at every opportunity. With the clarification of the legal framework for crypto asset service providers in Turkey, we completed our preparations in a short time and made our preliminary application. We would like to state that we are closely following legal developments and are determined to protect the rights of our users. We are doing our part to comply with the regulations. We will continue to share developments regarding this process through our official communication channels.” He was stated to have said.

However, information regarding this application is not yet visible on the CMB’s official website.

As WhiteBIT Türkiye, we have made our preliminary application for Crypto Asset Regulation!

As WhiteBIT Teknoloji A.Ş., we have completed our preliminary application within the scope of the new regulations of the Capital Markets Board that came into force on July 2, 2024. pic.twitter.com/eSWBUA3rnL

— WhiteBIT Turkiye (@WhiteBIT_TR) July 31, 2024