KuCoin TR Submitted SPK Application in Türkiye, Affirming Commitment to Compliance and Local Users
2025/08/07 10:00:00
In the fast-evolving world of cryptocurrency, regulatory compliance isn't just a checkbox—it's the foundation for sustainable innovation and user trust. Today, we're excited to share a significant milestone for KuCoin's presence in Türkiye: KuCoin's Türkiye collaborative partner, KuCoin TR Kripto Varlık Alım Satım Platformu AŞ (a.k.a. "KuCoin TR"), officially submitted its licensing application to the Türkiye Capital Markets Board ("SPK") for authorization as a Crypto Asset Service Provider. This step positions KuCoin TR on the SPK's list of operating entities, right alongside industry leaders like Binance TR, Bybit TR, and OKX TR, as Türkiye solidifies its role as a dynamic crypto hub.
Since launching the localized platform in 2024, KuCoin TR has been on a mission to empower Türkiye's thriving crypto community. We've hit key milestones along the way, starting with targeted service updates in September 2024 that made trading smoother for local users. These included enhanced fiat on-ramps with Türkiye Lira (TRY) pairs, quicker deposits and withdrawals, and intuitive features designed for everyday transactions—in a market where a large portion of the population is already deeply engaged with digital assets. In August 2024, we bolstered our local management team with specialized expertise in compliance and expansion, ensuring we're equipped to navigate this growing landscape. That same month, our initial SPK application showcased our proactive stance, joining over 47 exchanges (a list that has since expanded) under the amended Capital Markets Law No. 6362 to keep services uninterrupted during the regulatory shift.
Türkiye's crypto regulations have come a long way, balancing cutting-edge innovation with strong investor safeguards amid economic challenges like the Türkiye Lira's volatility, which has fueled crypto's rise as an inflation hedge. The 2024 amendments to Capital Markets Law No. 6362 laid the groundwork by defining crypto assets and empowering SPK oversight. By March 2025, secondary regulations—Communiqués III-35/B.1 and III-35/B.2—rolled out detailed standards on capital reserves, AML, KYC, travel rule compliance, and asset custody, while outlawing high-risk practices like leveraged trading. With transitional deadlines for full licensing by June 2026 and measures like site blocks and 72-hour withdrawal delays, these changes are creating a safer, more attractive environment for institutional and retail users alike.
As Tony Ruan, General Manager of KuCoin TR, puts it: "As Türkiye's regulatory landscape matures, KuCoin remains steadfast in our commitment to compliance and user-centric innovation. 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. We're excited to grow alongside this market, ensuring security, transparency, and accessibility for all."
Echoing this, BC Wong, CEO of KuCoin, adds: “At KuCoin, our commitment to compliance has always been at the core of our strategy, and we continue to move forward with confidence and determination. From becoming the first global exchange successfully registered with India’s FIU, to MiCA license application in the EU, to the launch of KuCoin Thailand, and now KuCoin TR's SPK application in Türkiye — each milestone reflects our dedication to building a secure, compliant, and transparent trading environment. We will keep meeting the needs of users around the world while upholding the highest standards of security and regulatory alignment.”
Looking ahead, by prioritizing top-tier security and compliance, we're not just adapting—we'are looking forward to helping shape an ecosystem where innovation thrives under clear guidelines. Stay tuned for more updates, and if you're in Türkiye, explore KuCoin TR today to see how we're making crypto work for you.
About KuCoin TR
KuCoin TR is designed to deliver trusted and secure cryptocurrency services tailored to the Türkiye market. With a focus on compliance, security, and user engagement, KuCoin TR is committed to helping Türkiye users discover and invest in promising crypto projects.