Nikolai Timofejev
15 years in FinTech and payments. Maps your business model to the right licence scope and leads the file all the way to the SPK decision, including banking and payment rails.
Get a crypto license in Türkiye.
One of the world's most active crypto markets finally has full rules: the SPK licenses crypto asset service providers under Law 7518, with the detailed communiqués in force since March 2025. We run the file from our own Istanbul office.
27 yrs
on the international marketon the market
60+
in-house specialistsspecialists
400+
Crypto licenses obtainedlicenses obtained
Updated
Türkiye in brief
A giant market moves from grey to governed.
Türkiye runs one of the highest crypto adoption rates on earth - a market of 85 million where digital assets became a household instrument years before the rules caught up. The rules have now caught up. Law No. 7518 amended the Capital Markets Law in July 2024 to put crypto asset service providers under the Capital Markets Board (SPK), and the two implementing communiqués - III-35/B.1 on establishment and III-35/B.2 on operations - were published in the Official Gazette on 13 March 2025. The framework is institutional-grade: minimum capital of TRY 150 million for trading platforms and TRY 500 million for custody firms, technology audits, listing procedures and client-asset segregation with custody at banks.
The market is mid-consolidation: 55 providers stand on the SPK's provisional operating list under the law's transitional articles, while full authorisation reviews run, and the SPK itself stresses that presence on the list is not yet an authorisation. That is the window. Groups that file institutional-quality applications now enter a market where dozens of under-capitalised local platforms must merge, upgrade or exit. We run the whole path - Turkish company, capital structuring, the SPK file and the technology audit - from our own office in Istanbul's Perpa Ticaret Merkezi.
One of the world's most active crypto markets now runs on SPK rules: Law 7518 plus the communiqués of 13 March 2025 - TRY 150M platform capital, TRY 500M custody.
55 providers sit on the provisional list while reviews run - the consolidation window. We file from our own Istanbul office.
The two tracks
Platform or custodian - the SPK licenses both.
The communiqués split the industry into trading platforms and custody providers, each with its own capital floor and file. Most groups need the platform track. With custody arranged through authorised custodians and banks.
Two tracks under the communiqués: trading platform and custody provider. Each with its own capital floor.
01 - TRADING PLATFORM
Crypto asset trading platform
The core SPK authorisation for exchanges serving Turkish clients. Order matching, listing and client onboarding under the Capital Markets Board's rules, with TRY 150 million minimum capital.
The core SPK authorisation for exchanges serving Turkish clients. Order matching, listing and client onboarding under the Capital Markets Board's rules, with TRY 150 million minimum capital.
- ✓Crypto ↔ TRY and crypto ↔ crypto trading
- ✓Listing procedures under communiqué III-35/B.2
- ✓Client asset segregation - custody via banks
- ✓Technology infrastructure with audit requirements
- ✓Fit & proper founders, directors and shareholders
- ✓TRY 150,000,000 minimum paid-in capital
02 - CUSTODY PROVIDER
TRY 500M tierCrypto asset custody
The institutional tier. Safekeeping of client crypto for platforms and funds, with TRY 500 million minimum capital and bank-grade controls. The scarcest licence in the new system.
The institutional tier. TRY 500M capital, bank-grade controls, the scarcest licence in the system.
- ✓Custody of client crypto-assets and keys
- ✓Services to platforms, funds and institutions
- ✓TRY 500,000,000 minimum paid-in capital
- ✓Segregation, reporting and audit duties
- ✓Bank and intermediary-institution heritage rules
- ✓The infrastructure layer the market now requires
Costs and timelines are confirmed for your case before any work begins. Capital requirements are set by the SPK's communiqués of 13 March 2025; authorisation reviews under the transitional regime are live, and third-party costs. Audit, technology, local staffing. Are itemised in your quote.
Why Türkiye
The market was always there. Now the rules are too.
The framework rests on the Capital Markets Law as amended by Law 7518, supervised by the SPK. The same board that runs Türkiye's securities markets.
✓
One of the world's biggest crypto markets
85 million people with top-tier global adoption. Crypto in Türkiye is a mainstream household instrument, not a niche. The addressable market alone justifies the file.85M people, top-tier global adoption.
✓
Institutional rules, in force
Law 7518 plus the two communiqués of 13 March 2025. Establishment, operations, capital, custody, listing. This is a securities-grade framework, published in the Official Gazette, not draft guidance.Official Gazette, 13 March 2025, not drafts.
✓
The consolidation window
55 providers sit on the provisional list while full reviews run, and the capital floors will thin that list. Well-capitalised entrants meet a market that is consolidating in their favour.Capital floors will thin the 55-name list.
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The SPK's stamp
Licensing by the Capital Markets Board. The institution behind Borsa Istanbul's ecosystem. Reads as serious to banks and partners in a way registration-only regimes never did.Securities-board licensing - banks notice.
✓
Our own Istanbul office
Company formation, the SPK file, technology audit coordination and local staffing. Run by our own team at Perpa Ticaret Merkezi, in Turkish, with you kept in English.Filed in Turkish, reported in English.
✓
The bridge position
Between EU MiCA and the Gulf's regimes, Türkiye is its own centre of gravity. A domestic market this size needs no passport to justify itself, and Istanbul connects all three worlds.Its own centre of gravity between EU and Gulf.
How it compares
How Türkiye differs from other routes.
Türkiye is a domestic-market play with securities-grade rules. Capital-heavy, but the market is the prize. The comparison is below.
Türkiye vs other jurisdictions
| Feature |  Türkiye | Other jurisdictions |
|---|---|---|
| Regulatory regime | SPK - CML 6362 + Law 7518 | MiCA or lighter registrations |
| Home market | 85M, top-tier adoption | Mostly smaller or saturated |
| Capital bar | TRY 150M / 500M | €50k-€150k under MiCA |
| Market phase | Consolidation - reviews live | Mostly settled markets |
Regulatory regime
TürkiyeSPK - CML 6362 + Law 7518
Other jurisdictionsMiCA or lighter registrations
Home market
Türkiye85M, top-tier adoption
Other jurisdictionsMostly smaller or saturated
Capital bar
TürkiyeTRY 150M / 500M
Other jurisdictions€50k-€150k under MiCA
Market phase
TürkiyeConsolidation - reviews live
Other jurisdictionsMostly settled markets
Country by country
| Country | License type | Taxation | Requirements |
|---|---|---|---|
| Türkiye | SPK crypto asset service provider | 25% CIT | TRY 150M/500M capital, tech audit |
 UAE (Dubai) | VARA VASP by activity | 9% CIT · 0% personal | Substance-heavy, 3-9 months |
 Kazakhstan | AFSA licences (AIFC) | 0% CIT/VAT to 2066 | Published fees, English-law court |
 Czech Republic | MiCA CASP (ČNB) | 21% CIT | EU passport, 4-6 months |
TürkiyeLicense typeSPK crypto asset service provider
Taxation25% CIT
RequirementsTRY 150M/500M capital, tech audit
UAE (Dubai)License typeVARA VASP by activity
Taxation9% CIT · 0% personal
RequirementsSubstance-heavy, 3-9 months
KazakhstanLicense typeAFSA licences (AIFC)
Taxation0% CIT/VAT to 2066
RequirementsPublished fees, English-law court
Czech RepublicLicense typeMiCA CASP (ČNB)
Taxation21% CIT
RequirementsEU passport, 4-6 months
Before you apply
Requirements for the SPK authorisation.Requirements for SPK authorisation.
The communiqués of 13 March 2025 define the file in securities-market detail. The checklist below is what a passing application contains.
01
Turkish joint-stock company (A.Ş.). Established for this purpose, with registered shares and Istanbul-grade governance.
02
Capital. TRY 150 million minimum for a trading platform, TRY 500 million for a custody provider, fully paid in.
03
Fit & proper founders and shareholders. Clean records, financial standing and transparent ownership to UBOs.
04
Qualified management. Directors and key staff meeting the communiqués' experience and licensing criteria.
05
Technology infrastructure. Platform, wallet and security architecture meeting the published technical criteria, with audits.
06
Custody arrangements. Client assets segregated, crypto held through authorised custodians and banks.
07
Listing framework. Coin admission procedures and criteria per communiqué III-35/B.2.
08
AML/CFT programme. MASAK-grade KYC, monitoring and reporting, with a named compliance officer.
09
Internal systems. Internal control, risk management and internal audit functions from day one.
10
Independent audit. Financial and information-systems audits by authorised firms.
11
For firms on the provisional list: conversion filings under the transitional articles. Deadlines are unforgiving.
01
Purpose-built Turkish A.Ş. with registered shares.
02
TRY 150M / 500M capital, fully paid in.
03
Fit & proper shareholders to UBOs.
04
Qualified local management.
05
Technology meeting audit criteria.
06
Custody via authorised custodians and banks.
07
Listing framework per III-35/B.2.
08
MASAK-grade AML with named officer.
09
Internal control, risk and audit functions.
10
Independent financial and IT audits.
Reflects Law 7518 and communiqués III-35/B.1-B.2 (Official Gazette 32840, 13 March 2025) as of 2026. Presence on the SPK's provisional list is not an authorisation. The board says so itself.Law 7518 + communiqués (RG 32840, 13 Mar 2025). The provisional list is not a licence.
How it works
From first call to the SPK's register.
01
Perimeter and strategy
Platform or custody, build or acquire, fresh file or conversion from the provisional list. Fixed in writing with capital and timeline.Platform or custody; fresh or conversion.
02
Turkish company and capital
A.Ş. formation, paid-in capital structuring to the TRY 150M/500M floors, and governance the communiqués require.A.Ş. + TRY 150M/500M paid in.
03
The application file
Business plan, technology documentation, listing and custody frameworks, AML programme. Assembled to communiqué detail.Tech, listing, custody, AML - full detail.
04
SPK review and audits
Question rounds before the board plus the information-systems audit. We answer in Turkish and keep you current in English.Rounds + IT audit. We answer both.
05
Authorisation and operation
Entry among the authorised providers, launch under supervision, and the ongoing reporting calendar, which we can keep running.Register entry, launch, reporting.
Quick facts
RegulatorSPK (CMB)
Law7518 · July 2024
Communiqués13 March 2025
Platform capitalTRY 150,000,000
Custody capitalTRY 500,000,000
Provisional list55 providers
Corporate tax25%
Market85 million
Full authorisation reviews under the transitional regime are live. The provisional list is not a licence, and the SPK has said so publicly.
On the ground in Istanbul
Licensed from the city we work in.
Prifinance - Türkiye
Istanbul · Perpa Ticaret Merkezi
Perpa Ticaret Merkezi, A Blok, Istanbul
01
Turkish company formation
A.Ş. incorporation with registered shares, notarised charter and the governance the SPK expects. Structured for the authorisation from day one.A.Ş., structured for the authorisation.
02
The SPK file
Application dossier under both communiqués. Capital evidence, business plan, listing framework and AML pack. Drafted by us and defended in Turkish before the board.Both communiqués. Defended in Turkish.
03
Technology and audit
Coordination of the information-systems audit and technical-criteria compliance. The layer where most applications stall, handled with local specialists.The stalling layer, handled locally.
04
Substance and staffing
Directors, compliance officers and operations staff recruited locally; payroll and office arrangements run from our own Istanbul base.Hired and run from our Istanbul base.
We also have offices in
Tallinn
Estonia
Roseni 13
Vilnius
Lithuania
Gedimino pr. 2
Prague
Czech Republic
Vlkova 532/8, Žižkov
London
United Kingdom
7 Bell Yard
Dubai
UAE
33 Level, Al Saqr Business Tower
Madeira
Portugal
Rua da Alegria 31, 1F
Budapest
Hungary
Korányi Sándor u. 4
Good to know
Taxation of crypto companies in Türkiye.
Ordinary Turkish corporate taxation applies - no crypto-specific levies are in force for 2026, though the debate continues. The real numbers below.
Corporate tax 25%
The standard kurumlar vergisi rate on platform and custody profits. Trading margins, fees and treasury gains alike, with ordinary deductions.Standard rate, ordinary deductions.
No dedicated crypto tax - yet
As of 2026 Türkiye has enacted no separate personal crypto capital-gains tax and no transaction levy. Proposals have circulated for years without passing. Individuals' occasional gains sit outside a dedicated regime; commercial activity is taxed as business income.Debated for years; nothing in force 2026.
Dividend withholding 15%
Distributions to individuals and non-residents carry 15% withholding, reduced by treaty where one applies. Türkiye's network spans 85+ agreements.Treaty relief across 85+ agreements.
Inflation-adjusted books
Turkish accounts apply inflation adjustment when thresholds are met. A real factor for TRY-denominated capital of 150-500 million; we plan the equity structure around it.Real factor for TRY capital floors.
BSMV and VAT nuances
Banking and insurance transactions tax and VAT treatment of crypto services remain areas of practice rather than clear statute. Positions are taken with advisers, and we document them defensibly.Positions documented defensibly.
Payroll and incentives
Standard employer contributions apply; technology development zones and R&D centres offer real reductions for qualifying engineering teams. Worth structuring before hiring.Real reductions for engineering teams.
Tax summary
Corporate tax25%
Dedicated crypto taxNone enacted (2026)
Dividend withholding15% · treaty relief
Standard VAT20%
Inflation adjustmentApplies by thresholds
Tax treaties85+
*Figures as of 2026. Crypto-specific taxation has been debated repeatedly. We monitor the Official Gazette and adjust structures before changes bite.
Turnkey professional support
Experienced lawyers and international consultants.
We provide end-to-end support, from company registration and the application file to regulatory interaction and compliance oversight - with an individualized approach to each client.
Oleksii Kindratenko
Builds the application itself: Turkish A.Ş., AML/KYC policy pack, capital structure and tax registrations. His document sets are the reason reviews finish in months, not years.
Eugeniu Bevziuc
First point of contact for international founders. Runs the whole setup remotely, across time zones and languages - from the first call to a live, SPK-authorised business.
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Türkiye · SPK
Launch your crypto project in Türkiye with expert support.
Full-service assistance - from A.Ş. registration to SPK authorisation and ongoing compliance.
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Our legal team will analyze your case at no cost and provide a written legal opinion: which jurisdiction, licence scope, or route fits your business.
Written assessment within 2-5 business days
Request a free conclusion →FAQ
The Turkish crypto licence - the questions we hear.
What licence does a crypto business need in Türkiye?+
Authorisation from the Capital Markets Board (SPK) as a crypto asset service provider - required for trading platforms and custody providers serving Turkish clients, under the Capital Markets Law as amended by Law 7518 and the communiqués of 13 March 2025.
What are the capital requirements?+
TRY 150 million minimum paid-in capital for a trading platform and TRY 500 million for a custody provider, per the SPK's communiqués - the floors that are consolidating the market.
What is the provisional operating list?+
55 providers declared operations under the law's transitional articles and appear on the SPK's list while full reviews run. The SPK states explicitly that listing is not an authorisation - conversion filings and fresh applications are judged on the full communiqué standard.
How long does authorisation take?+
The regime is young and reviews run in waves; realistic planning is months, not weeks, with the information-systems audit usually the pacing item. We fix a timeline in writing after scoping your file.
What substance is expected?+
A purpose-built Turkish A.Ş. with fully paid capital, fit-and-proper shareholders disclosed to UBOs, qualified local management, real technology infrastructure passing audit, and MASAK-grade AML staffing.
How is custody handled?+
Client crypto is segregated and held through authorised custody providers and banks - the TRY 500 million custody tier exists precisely to institutionalise this layer. Platforms arrange custody contracts as part of the file.
How are crypto companies taxed?+
Standard corporate tax at 25%, dividend withholding at 15% subject to treaties, and inflation-adjusted accounting where thresholds are met. No crypto-specific corporate levies are in force.
And individuals?+
As of 2026, Türkiye has no dedicated personal crypto capital-gains tax - proposals have circulated without passing. Occasional private gains sit outside a specific regime; systematic trading can be characterised as commercial income. We track the debate and structure accordingly.
Can foreign groups own a Turkish platform?+
Yes - foreign shareholders are permitted subject to the same fit-and-proper and disclosure standards, and several licensed operators have international ownership. The entity itself must be a Turkish A.Ş. with local substance.
Why Türkiye rather than a passported EU licence?+
Different prizes. MiCA buys 27 mid-size markets; Türkiye is one enormous domestic market with top-tier adoption that no passport reaches. Groups serious about the region hold both, and our Istanbul and EU desks run them in parallel.
What licence is needed?+
SPK authorisation - platforms and custodians.
Capital?+
TRY 150M platform · TRY 500M custody.
The provisional list?+
55 names, but listing is not authorisation.
How long?+
Months; the IT audit paces most files.
Substance?+
Turkish A.Ş., local management, real tech.
Custody?+
Segregated, via authorised custodians and banks.
Company taxes?+
25% CIT; dividends 15%.
Personal crypto tax?+
None dedicated as of 2026.
Foreign ownership?+
Permitted - same fit & proper standards.
Türkiye or MiCA?+
Both prizes differ - serious groups hold both.
Client notes
Google4.7★★★★★
Founders who wanted it done right.
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Prifinance is an independent law and advisory firm. We are not a regulator and are not affiliated with, endorsed by, or acting on behalf of the Capital Markets Board of Türkiye (SPK) or any other public authority. Authorisations are granted by, and obtained directly from, the competent authorities.