As Turkish fintech expands abroad, local regulation = additional investment. Honest if the plan is made from the beginning.
EU market
- MiCA (2024 for crypto).
- GDPR + DPA assignment.
- EMI / PSP license (separate in each country).
US market
- Money transmitter licensing by state (50 separate processes).
- FinCEN MSB registration.
- BSA / AML compliance.
Tax
- Double tax agreements.
- Withholding tax + transfer pricing.
Frequently asked
Is the EU sufficient with a single license?
Yes, with Passporting; home country license is valid in others.
Is there a US federal license?
Partial (FinCEN); State money transmitter is required.
Time + cost?
EU: 12-18 months, 500K-2M EUR. USA: 24-36 months, 5-10M USD.
Relevant legislation
- Law No. 6493 — Payment & electronic money; licensing, operating permit.
- BRSA Regulations — Payment institution / EML permission, capital, reporting.
- 5549 SK — MASAK; KYC, STR, regular activity.
- KVKK + GDPR — Data security, cross-border transfer.
- PCI-DSS — Card storage; PCI level 1-4 compliance.
Legal notice: This article is for general information purposes; A meeting with a lawyer is required for a concrete case.