ISTANBUL, Aug. 7, 2025 /PRNewswire/ -- KuCoin, a leading global cryptocurrency exchange, is pleased to announce that its Türkiye collaborative partner, KuCoin TR Kripto Varlik Alim Satim Platformu AS (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 milestone places KuCoin TR on the SPK's list of operating entities, alongside prominent platforms such as Binance TR, Bybit TR, OKX TR, and others, as Türkiye continues to formalize its dynamic crypto ecosystem. By aligning with SPK's transitional framework, KuCoin TR reaffirms its dedication to maintaining seamless services for Türkiye users while prioritizing robust infrastructure, user security, and compliance.
Since launching its localized platform in 2024, KuCoin TR has rapidly evolved to serve Türkiye's vibrant crypto community, achieving key milestones in service enhancements, leadership, and regulatory alignment. In September 2024, the platform introduced targeted updates for Türkiye users, including improved fiat on-ramps with Türkiye Lira (TRY) trading pairs, faster deposits and withdrawals, and user-friendly features that make crypto more accessible for everyday transactions and investments in a market where a large portion of the population engages with digital assets. Earlier in August 2024, KuCoin strengthened its local management team with expertise in compliance and expansion. KuCoin TR's initial SPK application in August 2024 demonstrated early commitment to emerging regulations by joining over 47 exchanges (which later expanded) under the amended Capital Markets Law No. 6362 to ensure seamless user continuity during the transition. These efforts highlight KuCoin's dedication to embracing regulation and delivering reliable services.
Türkiye's crypto regulatory framework has advanced significantly to balance innovation with investor protection, influenced by economic pressures like the Türkiye Lira's volatility, which has driven widespread adoption as a hedge against inflation. Starting with 2024 amendments to the Capital Markets Law No. 6362, which defined crypto assets and empowered SPK oversight, the landscape evolved with March 2025 secondary regulations-Communiqués III-35/B.1 and III-35/B.2-imposing capital reserves, AML, KYC, and travel rule standards, and asset custody rules while banning high-risk activities like leveraged trading. Transitional periods mandate full licensing by June 2026, with enforcement such as site blocks for unlicensed platforms and 72-hour withdrawal delays, creating a secure environment that channels enthusiasm into regulated channels and attracts institutional investment.
"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. We're excited to grow alongside this market, ensuring security, transparency, and accessibility for all."
BC Wong, CEO of KuCoin, added:
"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."
With this SPK application, KuCoin TR is poised to contribute to a more regulated and inclusive crypto future in Türkiye. By upholding the highest standards of security and compliance, KuCoin invites users, partners, and regulators to join in creating an ecosystem where innovation flourishes within clear rules.
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.
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