16.02.2026 12:05
Despite leveraged trading being strictly prohibited by the Capital Markets Board (SPK) in Turkey, it appears that some global cryptocurrency exchanges continue their activities targeting Turkish users. Most recently, a cryptocurrency exchange named Weex introduced a 400x leverage product and various other products considered banned in Turkey at a physical event it organized in the country. Some cryptocurrency influencers who attended the event indirectly promoted the organization by announcing it.
While discussions about regulation in the cryptocurrency sector continue, the Capital Markets Board (CMB) has drawn attention by previously removing Turkish language support from some platforms to prevent the guidance of Turkish users and banning advertising and marketing activities aimed at Turkey. Despite this, the physical event held by the global cryptocurrency exchange Weex in Turkey and its live broadcast reaching a wide audience has brought the discussions back to the forefront.
TURKISH INFLUENCERS ALSO SHARED During the live-streamed event, details of high-leverage products were shared, and it was observed that some cryptocurrency influencers made posts directing their followers to the relevant platform. Among the Turkish cryptocurrency influencers mentioned were Lord Of Crypto (Fırat Kurtoğlu), Nihat Çetinkaya, Coin Engineer, KriptoPusulası (Berk Özdeşer), Mehmet Gizik, and Caner Saltık, who were also noted to be participants in the Weex event. Some influencers highlighted campaigns for leveraged transactions in their posts on X and Telegram. Experts warn that such promotions encourage investors to engage in high-risk transactions and constitute unauthorized capital market activity.
In the statement made by the CMB, it was stated, "The execution of leveraged transactions for investors residing in Turkey by individuals other than those authorized by our Board constitutes the crime of unauthorized capital market activity. According to the second paragraph of Article 109 of the Capital Markets Law No. 6362, those who engage in unauthorized activities in the capital market shall be punished with imprisonment from two to five years and a judicial fine of five thousand to ten thousand days. In this context, as a result of the audits conducted by our Board; criminal complaints are being filed against those who engage in unauthorized activities in the capital market, as well as those who facilitate the execution of the crime of unauthorized capital market activity by promoting/advertising the said activity or by using the bank accounts and/or phone lines of their own and/or the company they represent."
ACCESS BLOCKAGE ON THE AGENDA Industry sources indicate that access blockage decisions may come to the agenda regarding exchanges like Weex, which continue their activities despite not having a license application in Turkey. Previously, access restrictions had been imposed on some platforms in similar situations. Furthermore, experts point out that practices such as not including advertising statements in promotions made on social media and highlighting banned capital market products also create a separate area of violation. It is expected that the discussions will bring the topics of regulation and investor protection in the cryptocurrency market back to the top of the agenda.