The Turkish parliament has passed amendments to the capital markets law, introducing new regulations on crypto assets, including: 1. The capital markets committee (SPK) now has the power to oversee cryptocurrency trading and "adopt measures and sanctions", such as freezing and confiscation of funds, and platforms must develop written listing procedures to determine which cryptoassets will be traded or offered and distributed for the first time, and comply with the principles and regulations of the SPK. 2. Individuals and legal persons operating crypto asset services without authorization will face three to five years in prison; service providers who misappropriate entrusted funds or assets, including crypto assets, will face eight to 14 years in prison and compensation for damages; if the crime involves deception to conceal the misappropriation, the offender will face 14 to 20 years in prison; individuals found to have illegally used the resources of a revoked crypto asset service provider for the benefit of individuals or third parties will face 12 to 22 years in prison. 3. The price of the platform will be determined freely, and a monitoring system must be established to detect, prevent, and avoid market disruptions. The platform shall identify and report market disruptions and transactions, and take necessary measures such as restricting, suspending, and closing the accounts involved, and report to the SPK. 4. The SPK will develop regulations on investment advisory and portfolio management related to cryptoassets, and will issue certificates of authorization to cryptoasset service providers to carry out their activities. Banks will need to obtain approval from the Banking Supervisory Authority (BDDK).