Law No. 7518 on Amendment of Capital Markets Law (the “Amendment Law”) has been published in the Official Gazette dated July 2, 2024, and followed by secondary regulations published on March 13 in the Official Gazette. This white paper focuses on the different business and technological deployment models crypto asset service providers may have and is a follow-up to our paper published in February on Turkish requirements with respect to IT Banking Systems. It covers:

• New definitions from the secondary regulations

• Secondary regulations’ main elements and key timeline

• Compliant custody set-up for platforms and other institutions

• How Taurus ensures full compliance