Crypto asset service providers are subject to obligations such as operating licences, capital adequacy, information systems security, protection of client assets and MASAK compliance. They must periodically have an independent audit verify that client assets are backed by reserves.
Related terms
Reserve auditAn independent auditor verifying that a crypto asset service provider genuinely and fully holds the assets belonging to its clients.MASAKThe Financial Crimes Investigation Board, affiliated to the Ministry of Treasury and Finance, which develops policy and supervises obliged parties in combating money laundering and terrorist financing.Know your customer (KYC)The processes by which obliged parties identify and verify their customers, determine the beneficial owner and understand the purpose of the business relationship.Bonus issueIssuing shares to shareholders by adding a company's internal resources (reserves, retained earnings, capital adjustment differences) to its capital.Borsa IstanbulThe exchange in Turkey on which shares, debt instruments, derivatives and precious metals are traded.Capital Markets Board (CMB)The independent administrative authority responsible for regulating and supervising capital markets in Turkey.
Last updated: October 22, 2026 · This definition is for general information only.