KuCoin TR Kripto Varlık Alım Satım Platformu AŞ (“KuCoin TR”), the Türkiye-based partner of global crypto exchange KuCoin, has submitted its official licensing application to the Capital Markets Board of Türkiye (SPK) to operate as a registered Crypto Asset Service Provider. The move places KuCoin TR among a growing list of compliant platforms, including Binance TR, Bybit TR, and OKX TR, as Türkiye advances its regulatory framework for digital assets. The application reflects KuCoin’s strategy to align with local requirements while ensuring secure, uninterrupted service for Türkiye-based users. Launched in 2024, KuCoin TR has introduced key updates tailored to the Turkish market, such as TRY trading pairs, improved fiat on-ramps, and faster withdrawals. In August 2024, it submitted an initial SPK application and bolstered its local team with compliance and expansion specialists. These steps followed the amended Capital Markets Law No. 6362, which brought crypto platforms under SPK oversight. "As Türkiye's regulatory landscape matures, KuCoin remains steadfast in our commitment to compliance and user-centric innovation," said Tony Ruan, General Manager of KuCoin TR. "Submitting our application to SPK is a natural extension of our global strategy to proactively meet local requirements, building a trustworthy platform where Türkiye users can thrive." Türkiye's evolving crypto regulations, shaped by economic factors and growing retail adoption, include capital reserve requirements, AML/KYC compliance, asset custody standards, and a ban on leveraged trading. Full licensing is required by June 2026, with enforcement actions planned for non-compliant platforms. “At KuCoin, our commitment to compliance has always been at the core of our strategy,” added KuCoin CEO BC Wong. “From India’s FIU registration to MiCA in the EU and now the SPK application in Türkiye, each step reflects our dedication to building a secure, transparent trading environment.” KuCoin TR’s application reinforces its long-term commitment to operating within Türkiye’s regulated crypto ecosystem, contributing to a safer and more structured market environment. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
