Crypto Deadline Today – Turkey’s Crypto Exchanges Face Final SPK Deadline

Crypto Deadline Today – On March 13, the Capital Markets Board (SPK) issued new regulations defining the establishment, operation, and governance of crypto asset service providers (CASPs) known as crypto exchanges. These rules set a June 30 deadline—which is today—for exchanges to submit their operating applications to the SPK.

Capital and Custody Requirements by SPK

Cryptocurrency exchanges applying to the Capital Markets Board (SPK) are required to have a minimum capital of 150 million TRY, while custody service providers must have at least 500 million TRY in initial capital. It is mandatory that 95% of the assets are held by the custody provider, with the platform allowed to keep a maximum of 5% of the crypto assets in its own wallets. Additionally, platforms must maintain a 3% liquid reserve to ensure smooth operations. The holdings of any single cryptocurrency cannot exceed 20% of the platform’s total reserves.

Binance TR’s Mücahit Dönmez: “Custody Process Is Underway”

Binance TR CEO Mücahit Dönmez noted that following the July enactment of the law, the ecosystem ramped up its efforts. “We too are finalizing preparations and submitting our application today. Our evaluations regarding the custody process continue,” he said, highlighting the behind-the-scenes work to meet regulatory demands.

CoinTR CEO Ali Eşelioğlu: “Regulation Is Key for Trust and Stability”

Ali Eşelioğlu, CEO of CoinTR, called June 30 a turning point for the sector. He emphasized that clear regulations offer gains in user security, market stability, and international alignment. “Our company will complete its application this morning, having met all capital and technical requirements. Full compliance is essential for Turkey to assert itself in the global crypto ecosystem,” he stated.

Paribu Legal Director Türkarslan: “We Overhauled Our Infrastructure”

Mehmet Türkarslan, Legal Director at Paribu, stressed that the new regulations reinforce transparency and oversight mechanisms. He warned that failing to comply could result in application rejection. Türkarslan added that Paribu has made comprehensive improvements to information systems, cold and hot wallet security, and integration with the Central Registry Agency (MKK) to align with SPK and TÜBİTAK standards.

Conclusion: A New Era in Turkey’s Crypto Ecosystem

With today’s submissions to the SPK, Turkey will complete its first formal legal framework for crypto exchanges. This milestone marks the beginning of a more secure, transparent, and sustainable structure in the crypto industry. Achieving regulatory compliance will offer strong trust to users and stakeholders and significantly strengthen corporate infrastructure across service providers.

Disclaimer: This article is for informational purposes only and does not constitute investment advice. Cryptocurrencies and stocks, particularly in micro-cap companies, are subject to significant volatility and risk. Please conduct thorough research before making any investment decisions.