16.10.2026 18:00
Regulations for the crypto asset market in Turkey have reshaped the operations of global exchanges in the country. While global platforms such as Binance, OKX, Bybit, Gate, KuCoin, and WhiteBIT continue their compliance process with the regulations through their local companies, exchanges such as Coinbase, Bitget, and Bitfinex have entered liquidation proceedings for their companies in Turkey. For many platforms determined to be operating without authorization, access blocking decisions were issued or legal proceedings were initiated.
The legal framework of the crypto asset market in Türkiye was established by Law No. 7518, which entered into force in 2024. With the amendments made to Capital Markets Law No. 6362, the authority to regulate and supervise crypto asset service providers was given to the Capital Markets Board of Türkiye (SPK). Following the regulations, new obligations were introduced for crypto exchanges wishing to operate in Türkiye. This process led to significant changes in global platforms’ Türkiye strategies.
Binance, OKX, Bybit and Gate Continue Their Compliance Process in Türkiye
After the new regulations, some global crypto exchanges preferred to continue their operations through their local companies in Türkiye. Binance, OKX, Bybit, Gate, KuCoin and WhiteBIT are among the platforms that continue to operate in the Turkish market through their local entities. These companies are shaping their products, operational processes and user services according to the new requirements in order to comply with SPK and MASAK regulations. However, being included in SPK’s “List of Those Operating” does not mean that the relevant platform has obtained an operating license from the Board. The authorization processes of the companies on the list are evaluated separately.
MEXC’s Regulatory Process in Türkiye Remains Uncertain
Uncertainty continues regarding the compliance process of global crypto exchange MEXC with the regulations in Türkiye. Although it is stated that the platform has taken various steps to comply with the new regulatory framework in Türkiye, there is no definitive information disclosed to the public regarding the current status of the process.
Coinbase, Bitget and Bitfinex’s Türkiye Companies Are in Liquidation Process
Some global crypto exchanges, however, chose to terminate their local operations despite being involved in the regulatory process in Türkiye. Coinbase, Bitget, Bitfinex, BingX and Rain are among the platforms whose local companies in Türkiye are on SPK’s “List of Those in Liquidation Process.” The list includes the Turkish legal entities of Coinbase Turkey Yazılım Teknolojileri AŞ, Bitget Teknoloji AŞ and other companies. This development indicates that the companies in question have entered the process of terminating their local entities in Türkiye. However, the liquidation of local companies does not mean that these platforms have terminated their global operations.
Crypto.com, Gemini and Kraken Did Not Join the Local Licensing Process in Türkiye
There are also global exchanges that chose not to establish a local presence under the regulations in Türkiye. International platforms such as Crypto.com, Gemini, Upbit and Kraken are among the companies that are not involved in the local licensing process in Türkiye. However, the regulations in Türkiye do not directly ban all crypto exchanges operating abroad. According to the legislation, provided that overseas platforms do not engage in promotion, advertising or marketing activities aimed at users in Türkiye, users receiving services from these platforms entirely at their own initiative is considered outside the scope of the regulation under certain conditions.
HTX, LBank and Other Global Exchanges Face Access Blocking Decisions
The SPK continues its supervision and sanctions against platforms determined to provide crypto asset services in Türkiye without the required permissions. In its weekly bulletin published in August 2026, the Board decided to initiate legal proceedings for access blocking against 12 websites determined to be providing unauthorized crypto asset services and 11 websites determined to be engaging in unauthorized capital market activities. Among the platforms subject to access blocking decisions or related legal proceedings in Türkiye on grounds of unauthorized activity are global exchanges such as HTX, LBank, XT, Toobit, CoinW, WEEX, Tapbit, Phemex, LATOKEN and KCEX. The SPK continues to announce its decisions regarding websites determined to be operating without authorization to the public through its weekly bulletins.
Being Included in the SPK List Does Not Mean an Operating License
Regulations regarding the crypto asset market in Türkiye significantly changed the conditions that platforms must meet in order to continue their operations. While some global exchanges continue their compliance process with their local companies, others have opted for liquidation. Platforms determined to be operating toward the Turkish market without the required permissions, meanwhile, have faced access blocking processes. In this process, it is important for investors to check the current status of the platforms they are considering trading on through the SPK’s official website. Since being included in SPK’s “List of Those Operating” does not by itself mean an operating license, investors must also separately examine the authorization status of the platforms.