KuCoin’s Turkish arm is officially knocking on the SPK’s door, and it feels like the next natural chapter in a year that’s already been full of milestones for the team. On August 7, KuCoin TR Kripto Varlık Alım Satım Platformu AŞ filed its application with Türkiye’s Capital Markets Board (SPK), hoping to secure its full license as a Crypto Asset Service Provider.
If you’ve been following their journey since the local launch in early 2024, this feels like a long time coming. Last fall, Turkish lira trading pairs and lightning-fast TRY deposits and withdrawals rolled out, and the website got a fresh coat of user-friendly polish, you know, things that actually make crypto feel less intimidating. Behind the scenes, they’ve also been beefing up the local team, bringing on people who live and breathe Türkiye’s compliance rulebook.
“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.”
Cement Compliance, Enhance User Trust
The timing isn’t random. With the lira’s wild swings driving many Turks to crypto as a bit of a savings cushion, regulators have moved fast: 2024 amendments to Capital Markets Law No. 6362 gave them authority over digital assets, and this March brought tighter rules on everything from capital reserves to KYC checks and even banned some high-risk products. Exchanges have until mid-2026 to get fully licensed or face site blocks and withdrawal hiccups. For KuCoin’s global leadership, ticking off local license after local license has become routine.
BC Wong, KuCoin’s CEO, said, “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.”
What’s next? Beyond the SPK paperwork, expect KuCoin TR to host more local meet-ups, run educational sessions, and team up with homegrown fintechs. They’re hopeful that, once licensed, they’ll not only keep the users they’ve won over but also bring a few more Turks along for the crypto ride.
