CBRT Approves Central Registry System for Crypto Assets

The Central Bank of the Republic of Turkey (CBRT) has officially approved the operation of the Central Registry System for Crypto Assets (KVMKS), which will be run by the Central Securities Depository (MKK). This step is considered a significant development in the regulation and monitoring of the crypto asset ecosystem. The system will enable the recording of crypto asset transactions on a centralized infrastructure. MKK's experience in this field is expected to contribute to the effective functioning of the system. The approval aligns with the goals of increasing transparency in financial markets and reducing risks. With the implementation of KVMKS, the aim is to conduct transactions of crypto asset service providers within a more orderly framework. This system stands out as part of regulatory steps to strengthen investor protection. Experts state that this development will strengthen the institutional infrastructure of Turkey's crypto asset market and could align it with international standards. However, the operational details and implementation timeline of the system have not yet been clarified. This is not investment advice.