12.02.2026 10:00
Some global cryptocurrency exchanges operating in Turkey have continued to provide Turkish language support and advertising activities in violation of regulations, raising new access restrictions. Following the blocking of platforms for similar reasons in the past, it has become a matter of curiosity whether new sanctions will be imposed in the sector.
On July 2, 2024, the Law No. 7518 Amending the Capital Markets Law, which was published in the Official Gazette and came into force, prohibited foreign-based cryptocurrency service providers from offering Turkish language support in Turkey. The regulation clearly stated that access restrictions would be imposed on platforms that do not comply with this rule.
In this context, on December 12, 2024, access restrictions were imposed on many global cryptocurrency exchanges, including MEXC, Huobi, Biconomy, Bitmart, Bitmex, Bitrue, Bitunix, BloFin, BTCC, BTSE, CoinEx, CoinW, FameEX, Hotcoin, HTX, KCEX, and Poloniex. The justification for the restriction was that these platforms continued to provide services to users from Turkey despite not removing Turkish language support and not being listed in the "active operators" list of the Capital Markets Board.
"TRNC" METHOD IN TURKISH LANGUAGE SUPPORT
It appears that some global cryptocurrency exchanges claim to offer Turkish language support aimed at the Turkish Republic of Northern Cyprus (TRNC) instead of Turkey to circumvent regulations. The global cryptocurrency exchange Weex defines the Turkish language option on its website as being for the TRNC. This allows users to access leveraged transactions on the platform with a Turkish interface.
Experts remind that this method is not new, as it has been attempted by some exchanges like MEXC in the past, but it did not prevent access restrictions. It is stated that current practices could yield similar results.
LEVERAGED TRANSACTIONS ARE BEING DIRECTED THROUGH INFLUENCERS
It has been claimed that the global cryptocurrency exchange Weex, in addition to maintaining Turkish language support, directs users to leveraged transactions through social media influencers. The platform has reportedly organized various events and distributed gift vouchers to users. Experts remind that these activities are prohibited under the regulations of the Capital Markets Board (CMB) and that exchanges banned from providing services in Turkey may face sanctions due to such promotions and directions.
Additionally, it is stated that the influencers involved in these promotions could also be considered as engaging in unauthorized capital market activities and may incur legal liability. According to the legislation, individuals operating in the capital markets without permission can be punished with imprisonment from two to five years and judicial fines ranging from five thousand to ten thousand days.