Turkey Crypto Licensing Cost Calculator
Calculate Your Minimum Capital Requirements
Enter current exchange rate to calculate the minimum capital required for crypto service providers in Turkey according to Law No. 7518.
The minimum capital requirement for a crypto exchange is TRY 150 million (≈ $4.1 million).
This meets Law No. 7518 requirements under the Turkish Capital Markets Board (CMB) licensing framework.
In July 2025 Turkey blocked 46 unlicensed crypto exchanges in a single day - a move that shocked traders and highlighted how fast the country has shifted from a permissive stance to a tightly controlled ecosystem. Turkey crypto regulation now hinges on a set of laws, licensing requirements and three watchdog agencies that together create one of the most comprehensive crypto oversight models outside the EU.
From a Wild West to a Structured Market
Until April 2021 the Turkish Central Bank’s only directive was a ban on using crypto for payments, while buying, holding and trading remained legal. That split‑screen approach was the seed for today’s full‑scale framework. The turning point came with Law No. 7518 - formally titled the “Law on Amendments to the Capital Markets Law” - which entered parliament on 17 May 2024 and became law on 26 June 2024. The law introduced the first legal definitions for terms such as “wallet,” “cryptoasset,” “cryptoasset service provider” (CASP) and “cryptoasset custody service.”
From that moment forward, any entity wishing to operate an exchange, a custodial service or a trading platform must obtain a licence from the Turkish Capital Markets Board (CMB). The minimum capital thresholds are steep: TRY 150 million (≈ $4.1 million) for exchanges and TRY 500 million (≈ $13.7 million) for custodians. By July 2024 the new regime replaced a patchwork of informal guidelines and gave the government a clear lever to shape the market.
Three Regulators, One Goal
Capital Markets Board (CMB) serves as the primary regulator overseeing crypto‑asset service providers, issuing licences, setting reporting standards and imposing sanctions.
Financial Crimes Investigation Board (MASAK) enforces anti‑money‑laundering (AML) rules, can freeze crypto accounts and conducts ongoing audits of licensed operators.
Scientific and Technological Research Council of Türkiye (TÜBİTAK) checks technical compliance, ensuring that CASPs meet security and infrastructure standards.
These three bodies together cover legal, financial‑crime and technical dimensions, creating a “tri‑party” supervision model that few other jurisdictions match.
Law No. 7518: What It Actually Requires
- Formal definition of a crypto‑asset and a wallet, removing previous ambiguity.
- Mandatory licensing for any platform that offers trading, custody or brokerage services.
- Capital requirements (TRY 150 M for exchanges, TRY 500 M for custodians).
- AML/KYC thresholds: transactions above TRY 15,000 (~$425) must undergo rigorous identity verification.
- Regular reporting to CMB - including cancelled or unexecuted orders.
- Heavy penalties for non‑compliance, ranging from fines to criminal prosecution.
Compliance is not optional; the law’s enforcement arm, MASAK, began full‑scale audits in February 2025 and has already frozen dozens of accounts suspected of illicit activity.
Comparing Turkey’s Model to Other Major Jurisdictions
| Aspect | Turkey | EU (MiCA) | USA | China |
|---|---|---|---|---|
| Legal status of trading | Legal with licence | Legal with licence | Legal; fragmented agencies | Completely banned |
| Crypto payments | Prohibited | Allowed under AML rules | Allowed, state‑level restrictions | Prohibited |
| Licensing authority | CMB (single regulator) | National competent authorities | SEC, CFTC, FinCEN (multiple) | None - outright ban |
| Capital requirement for exchanges | TRY 150 M (~$4.1 M) | €5 M minimum | No uniform minimum | N/A |
| AML/KYC threshold | TRY 15,000 (~$425) | €10 000 | Varies by state | N/A |
The table shows that Turkey sits somewhere between the EU’s balanced approach and China’s outright ban, while offering clearer, single‑point oversight than the United States.
Real‑World Impact: Exchanges, Users, and Enforcement
One of the most high‑profile cases involved ICRYPEX, a domestic exchange that dominated Turkish volume. In July 2025 its founder was detained on allegations that crypto funds were used to finance criticism of the government. The case signaled that regulatory tools can also serve political purposes.
At the same time, the crackdown on unlicensed platforms forced users to migrate to the few remaining licensed exchanges. When authorities blocked 46 unlicensed services-including popular DEXs like PancakeSwap-traders reported sudden loss of access to certain token pairs and a surge in support tickets for verification delays.
Licensed users, however, note a tangible upside: stronger consumer protection, regular audits, and a clearer path to dispute resolution. Many say their accounts now feel “safer” even though the paperwork for large transactions can be tedious.
What It Takes to Get Licensed
Becoming a Crypto Asset Service Provider in Turkey is a multi‑step process that can take six to twelve months:
- Form a legal entity and raise the required capital (TRY 150 M for exchanges, TRY 500 M for custodians).
- Submit a detailed business plan to the CMB, covering technology stack, AML/KYC procedures, and risk‑management policies.
- Undergo a technical audit by TÜBİTAK to certify that security controls meet national standards.
- Obtain an AML licence from MASAK, including the appointment of a compliance officer and the implementation of real‑time transaction monitoring.
- Pass a final CMB review, after which a licence is granted and the platform can launch.
Ongoing obligations include monthly transaction reports, annual audits, and immediate notification of any suspicious activity. Failure to comply can result in fines up to TRY 2 million or suspension of the licence.
Future Directions: Upcoming Bills and Industry Outlook
Legislators are already drafting amendments that would give MASAK broader authority to freeze crypto accounts without a prior court order, tighten stable‑coin transfer limits and raise the AML transaction threshold to TRY 30 000. The proposals align with FATF recommendations and suggest that the regulatory trajectory will keep moving toward stricter oversight.
Despite the hurdles, the Turkish market remains vibrant: surveys show over 20 % of adults own some form of digital asset, and trading volume continues to climb. Analysts predict that licensed exchanges will capture 70‑80 % of market share as illegal platforms are squeezed out, leading to a more stable but less competitive environment.
For global firms eyeing the Turkish market, the key is to partner with local compliance advisors who understand both the legal language of Law No. 7518 and the practical nuances of navigating CMB, MASAK and TÜBİTAK processes.
Key Takeaways
- Turkey’s crypto regime shifted from a payment ban (2021) to a full licensing framework (2024‑2025) under Law No. 7518.
- All crypto‑asset service providers must obtain a CMB licence and meet high capital thresholds.
- Three regulators - CMB, MASAK and TÜBİTAK - share oversight of legal, AML and technical compliance.
- Enforcement is aggressive: 46 unlicensed exchanges blocked in July 2025, high‑profile arrests, and frequent AML audits.
- Future bills may raise AML limits and give MASAK broader freezing powers, signaling continued tightening.
Frequently Asked Questions
What is Law No. 7518 and why does it matter?
Law No. 7518, enacted in June 2024, formally defines crypto‑assets, wallets and service providers in Turkey. It creates a licensing regime, sets capital requirements and mandates AML/KYC thresholds, turning a loosely‑regulated market into a structured, government‑overseen ecosystem.
Can I still use cryptocurrency for payments in Turkey?
No. The Central Bank’s ban on crypto payments remains in force. You can trade or hold digital assets on a licensed exchange, but using them to buy goods or services is prohibited.
What are the capital requirements for a new exchange?
An exchange must raise at least TRY 150 million (about $4.1 million). Custodial services face a higher bar of TRY 500 million (~$13.7 million). These funds must be fully deposited before the CMB grants a licence.
How does MASAK enforce AML rules?
MASAK requires identity verification for any transaction above TRY 15 000, conducts real‑time monitoring, and can freeze crypto wallets linked to suspicious activity without a prior court order, though recent drafts aim to expand this power.
Will foreign crypto platforms be allowed to serve Turkish users?
Only if they obtain a CMB licence and comply with Turkish AML/KYC standards. The government actively blocks unlicensed foreign exchanges, as seen in the July 2025 crackdown.
