Binance TR CEO Mucahit Donmez Evaluates Turkey's First Cryptocurrency Law
The Turkish Grand National Assembly (TBMM) has passed a landmark bill regulating crypto assets, marking a significant milestone for Turkey's crypto ecosystem. Mucahit Donmez, CEO of Binance TR, has provided an evaluation of this new legislation, emphasizing its critical importance for all players in the Turkish market.

The Turkish Grand National Assembly (TBMM) has passed a landmark bill regulating crypto assets, marking a significant milestone for Turkey's crypto ecosystem. Mucahit Donmez, CEO of Binance TR, has provided an evaluation of this new legislation, emphasizing its critical importance for all players in the Turkish market.
The "Proposal to Amend the Capital Markets Law," which was approved by the TBMM General Assembly on June 26, has officially become law, establishing Turkey's first legal framework for crypto assets. This new regulation is seen as a crucial step toward organizing the crypto ecosystem and enhancing user security.
According to a statement from Binance TR, Mucahit Donmez highlighted Turkey's emergence as a dynamic hub for the crypto asset industry in recent years. He noted that Turkey has achieved remarkable growth and widespread adoption with its vibrant user and investor community. Donmez emphasized that the enactment of the new law represents a significant milestone for all players in the Turkish market.
Donmez stated, "Globally, Turkey ranks fourth in terms of transaction volume and twelfth in terms of adoption with a rate of 40%. With the approval of the crypto asset bill in the Parliament, our country has become one of the largest markets with crypto-specific regulations." He added that the approval and publication of these proposed regulations in the Official Gazette are essential for all players in the Turkish market.
The new regulations will require all crypto asset service providers to undergo a licensing process to continue their operations in Turkey. Donmez explained, "Licenses obtained from the state's regulatory authorities will provide a legal basis for crypto asset platforms operating in this field, thereby enhancing their credibility." He further noted that this requirement will compel all organizations wishing to participate in the market to implement stringent corporate and operational measures to ensure high user security. This, in turn, is expected to promote further innovation and growth, as well as increase user trust and adoption rates.
Donmez also underscored the proactive approach of regulatory authorities and lawmakers toward crypto regulations, recognizing the unique nature of digital assets. He stated that regulators have established a special and effective legal framework that provides a comprehensive definition for crypto assets, rather than imposing traditional financial regulations on the crypto sector. This non-restrictive and innovation-friendly approach creates a conducive environment for the growth of Web3 and blockchain while ensuring compliance with global legal and regulatory standards.
He pointed out that regulators worked closely with all stakeholders in the ecosystem while drafting the framework, listening to their views, suggestions, and concerns. This collaborative effort ensures that the crypto asset regulations are designed not to restrict industry players but to mitigate potential risks and promote sustainable growth in the crypto ecosystem.
Lastly, Mucahit Donmez highlighted that Binance TR's focus will always be on its users. "With the approval of the new regulations, lawmakers and regulators have demonstrated their commitment to supporting the security and global growth of the sector. On our journey to enhance the financial freedom of our users in Turkey, we will continue to prioritize their experience and interests. Therefore, we strongly support clear and comprehensive regulations to manage the market effectively and set a global standard. Binance TR has the experience and capacity to comply fully with the upcoming regulatory changes in Turkey," he said.
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