While this decision had wide repercussions, especially on social media, it was also revealed that the CMB introduced similar restrictions not only for MEXC but also for many exchanges. This development stands out as an important step following the cryptocurrency regulations adopted in Turkey in June and published in the Official Gazette in July.

The new cryptocurrency regulations adopted in Turkey in June were noted as one of the most important legal steps in the industry. These regulations aimed to bring the activities of cryptocurrency exchanges under tighter control.

In July, these regulations were published in the Official Gazette and the first comprehensive legal framework for the cryptocurrency market in Turkey was created.

In this context, although global stock exchanges are not obliged to open an office in Turkey, it was decided that the activities of stock exchanges that do not offer a localized platform for Turkish users and do not do business in Turkey should be blocked. In parallel with this regulation, CMB announced today that it has blocked access to the MEXC exchange.

It seems that the CMB’s decision is not limited to MEXC only, and similar restrictions have been imposed on many other exchanges.

According to the research conducted by Uzmancoin, apart from MEXC; It was determined that the same blocks were also imposed on Biconomy, Bitmart, Bitmex, Bitrue, Bitunix, BloFin, BTCC, BTSE, CoinEx, CoinW, FameEX, Hotcoin, HTX, KCEX, Poloniex and WOO X exchanges.

This situation once again reveals how important it is for cryptocurrency exchanges to comply with new regulations in order to continue their activities in Turkey.

The new regulations mark an important turning point in the global cryptocurrency market. Turkey’s implementation of stricter controls for global stock exchanges and its request to operate in compliance with local regulations may pave the way for similar steps in other countries.

These regulations aim to popularize the use of crypto money, while also reducing risks in the sector and protecting users.

This decision taken by the Capital Markets Board is an important warning not only for the MEXC exchange but for all actors in the cryptocurrency market. It is a matter of curiosity whether similar restrictions will be applied to different exchanges in the future.