Turkey is advancing its cryptocurrency regulations with new rules for crypto asset service providers (CASPs).On March 13, the Capital Markets Board (CMB) of Turkey published two regulatory documents related to the licensing and operations of CASPs, including crypto exchanges, custodians and wallet service providers.The framework grants the CMB full oversight of crypto platforms, ensuring compliance with national and international standards.An excerpt from the title page of the CASP regulation document by the CMB. Source: Official GazetteIt also sets standards and requirements for establishing and providing crypto asset services in Turkey, such as establishment capital, history of executives, shareholder rules and others.Stricter requirements for CASPsUnder the framework, CASPs will be required to invest in compliance infrastructure and establish dedicated risk management teams to identify and manage a range of risks. The providers will also have to establish a price monitoring system to alert suspicious trading activity.Turkish CASPs will also have to adhere to stringent reporting requirements, providing the CMB with timely information about their operations.Additionally, the new framework further strengthens Turkey’s crypto Anti-Money Laundering (AML) standards, requesting CASPs to record significant data sets of transaction information, including canceled and unexecuted transactions.An excerpt from CMB’s CASP regulation document (translated by Google).