The cryptocurrency exchange KuCoin TR has officially applied for a license in Turkey to establish itself in the regulated market.
KuCoin TR License Application
KuCoin, a leading global cryptocurrency exchange, announced that its Turkish partner KuCoin TR has applied to the Capital Markets Board of Turkey (SPK) for a license. This application will allow KuCoin TR to position itself alongside other major players in the market, such as Binance TR and OKX TR, reinforcing its foothold in the regulated crypto market in Turkey.
Expanding the Crypto Market in Turkey
Turkey has an active crypto community, and growing interest in cryptocurrencies may be linked to the broader financial system. KuCoin TR is rapidly expanding among the active crypto community following the localization of its services in 2024, offering improved trading options in Turkish Lira and streamlined processes for deposits and withdrawals.
Regulatory Changes in Turkey
Turkey has improved its regulatory framework for cryptocurrencies in response to market growth and issues with the Turkish Lira. In 2024, amendments to the Capital Markets Law were enacted, introducing requirements for maintaining capital reserves and implementing KYC and AML standards. All exchanges must obtain full SPK authorization by June 2026 to comply with new regulations.
KuCoin TR's application for a license underscores the company's commitment to regulatory compliance and the development of the crypto ecosystem in Turkey.
