Market regulator closes 52 websites for unauthorized transactions
ANKARA
The Capital Markets Board (SPK) has disclosed in a recent announcement that it has taken legal measures to close down 52 websites that have been conducting leveraged transactions abroad via the internet.
These websites have been found to facilitate unauthorized forex-based activities for individuals residing in Türkiye.
The board’s statement emphasized it initiated the legal action in accordance with the fourth paragraph of Article 99 of the Capital Markets Law, which focuses on the “measures to be applied in case of an unauthorized capital market activity.”
According to the fourth clause, if it is discovered that websites are collecting funds from the public through crowdfunding platforms without the approval of the SPK or enabling leveraged transactions abroad through the internet for Turkish residents, the Information Technologies and Communications Authority (BTK) has the authority to block access to such platforms.
