Bybit Officially Recognized as a Crypto Asset Service Provider in Turkey

Bybit's local branch in Turkey has officially been recognized as a Crypto Asset Service Provider by the Capital Markets Board (CMB), marking a major milestone for the popular cryptocurrency exchange.

This summer Narkasa crypto exchange rebranded into Bybit Türkiye, highlighting the company’s commitment to providing a secure and tailored trading experience for Turkish users. Bybit Türkiye ensures compliance with all CMB regulations, reinforcing its dedication to fostering innovation within the Turkish market.

Boosting User Experience in Turkey

Recently, Bybit Türkiye introduced several updates to improve its platform for local users. Among the key changes are the addition of Turkish Lira trading pairs, making transactions easier, and a one-click buy feature designed to simplify crypto purchases for newcomers. By partnering with trusted banks like Ziraat Bank and Vakıfbank, the exchange enables smooth turkish lira deposits and withdrawals.

With a focus on both beginner and experienced traders, Bybit Türkiye provides advanced tools for pros and an easy-to-use interface for novices. It also offers 24/7 customer support in Turkish to ensure users have help whenever they need it.

Leadership’s Vision for the Future

Kutluhan Akçın, the Country Manager of Bybit Türkiye, emphasized the importance of the recent recognition, highlighting it as a major step forward for the exchange. He explained that this acknowledgment reinforces their commitment to offering a secure and localized trading platform, fully compliant with Turkish regulations.

Akçın also mentioned their ambition to lead the Turkish crypto market, providing users with a seamless Bybit experience, enhanced by Turkish Lira integration and strong customer support.

Turkey Implements New Regulations for Protecting Crypto Investors

CMB has implemented new regulations for the cryptocurrency sector, which are now in effect following updates to Capital Markets Law No. 7518.

These rules are designed to align with Temporary Article 11 of Capital Markets Law No. 6362, focusing on the operation of crypto platforms and the protection of customer rights.

Among the key requirements, platforms must keep customer funds in separate bank accounts, ensuring that these assets are distinct from their own. Transactions can only occur through authorized institutions, and platforms may accept orders solely via their official websites, mobile applications, or registered phone lines. Additionally, all transaction data must be securely stored in a tamper-proof manner.

The recent approval of Bybit Türkiye by the CMB marks a significant achievement, demonstrating the crypto exchange’s full compliance with regulations and its commitment to ensuring user protection.

Bybit on the Global Crypto Stage

Leading cryptocurrency exchanges Bybit recently reached a significant milestone, with over 40 million users now registered on its platform. This impressive growth highlights Bybit’s expanding presence and its appeal among crypto traders and enthusiasts around the world.

Alexander Stefanov