Thailand Regulator Approves USDT, USDC Stablecoins for Use in Financial Transactions
Thailand's SEC had authorised Bitcoin, Ether, XRP, XLM, and specific tokens designated for settlement by the central bank.
Key Takeaways:
Licensing Requirements – The Capital Markets Board (CMB) introduced stricter licensing criteria for Crypto Asset Service Providers (CASPs), including exchanges, custodians, and wallet service providers, ensuring compliance with financial regulations.
Operational Oversight—The new rules establish clear operational guidelines, enhancing transparency, security, and consumer protection in Turkey’s crypto market.
Regulatory Enforcement – The framework grants the CMB greater authority to monitor and enforce compliance, aiming to reduce risks such as fraud and illicit activities in the crypto sector.
Turkey has implemented new regulations to increase oversight and security in the cryptocurrency industry.
Overview
On March 13 2025, Turkey’s Capital Market Board (CMB) released two regulatory documents outlining licensing requirements and operational guidelines for Crypto Asset Providers (CASPs), including crypto exchanges, custodians, and wallet service providers.
These regulations primarily focus on crypto exchanges and custodians, reinforcing compliance measures and investor protection in one of the world’s fastest-growing crypto markets. The move comes as Turkey seeks to establish a robust regulatory framework amid rising concerns over fraud, money laundering, and financial stability.
Stronger Compliance Measures for Crypto Exchanges
The new regulations mandate that all crypto exchanges in Turkey register with the country’s Capital Markets Board (SPK). These exchanges must adhere to strict Know Your Customer (KYC) and Anti-Money Laundering (AML) policies, aligning with global standards. Additionally, exchanges must submit regular reports to regulatory authorities detailing their financial operations, customer transactions, and risk management strategies.
Turkey has also introduced exchange capital requirements to enhance security, ensuring they maintain sufficient reserves to cover potential losses. This measure aims to prevent collapses similar to those seen in unregulated markets, where exchanges have faced liquidity crises, leaving investors unable to access their funds.
New Custodial Regulations to Protect Investor Assets
Custodial services, which store and manage digital assets on behalf of investors, are now subject to stringent oversight. Under the new rules, custodians must segregate customer funds from their operational assets to prevent misuse or mismanagement. This requirement enhances investor protection and mitigates the risk of insolvency affecting client holdings.
The regulation also introduces mandatory cybersecurity protocols to safeguard digital assets from cyber threats. Custodians must undergo regular security audits, implement multi-factor authentication for user access, and maintain offline cold storage solutions for a significant portion of their holdings. By enforcing these measures, Turkish authorities aim to prevent hacks and unauthorised access that have historically plagued the crypto industry.
Implications for the Turkish CryptoMarket and Investors
While the regulatory overhaul strengthens Turkey’s crypto landscape, it also presents challenges for some industry players. Smaller exchanges and custodians with limited financial resources may struggle to meet the new compliance requirements, potentially leading to market consolidation. This could result in fewer but more secure and well-regulated platforms for Turkish investors.
The new regulations offer greater transparency and security for investors, reducing the risks associated with crypto trading and storage. However, stricter KYC and AML requirements may lead to increased scrutiny of transactions, potentially affecting the ease of onboarding and trading for some users. The Turkish government’s proactive approach signals its intent to foster a safer and more sustainable crypto ecosystem.
As other nations grapple with crypto regulation, Turkey’s latest measures could serve as a model for emerging markets looking to balance innovation with investor protection. With these new rules, Turkey is positioning itself as a serious player in the global crypto economy while safeguarding its investors from the risks that have troubled the industry worldwide.