Fintech 2026

TURKEY CONTENTS

6.7 Rules of Payment for Order Flow p.892 6.8 Market Integrity Principles p.892 7. High-Frequency and Algorithmic Trading p.892 7.1 Creation and Usage Regulations p.892 7.2 Requirement To Be Licensed or Registered as a Market Maker When Functioning in a Principal Capacity p.893

7.3 Regulatory Distinction Between Funds and Dealers p.893 7.4 Regulation of Programmers and Programming p.893 8. Insurtech p.894 8.1 Underwriting Processes p.894 8.2 Treatment of Different Types of Insurance p.894 9. Regtech p.894 9.1 Regulation of Regtech Providers p.894 9.2 Contractual Terms to Ensure Performance and Accuracy p.894 10. Blockchain p.895 10.1 Use of Blockchain in the Financial Services Industry p.895 10.2 Local Regulators’ Approach to Blockchain p.895 10.3 Classification of Blockchain Assets p.895 10.4 Regulation of “Issuers” of Blockchain Assets p.896 10.5 Regulation of Blockchain Asset Trading Platforms p.896 10.6 Staking p.896

10.7 Crypto-Related Lending p.896 10.8 Cryptocurrency Derivatives p.896 10.9 Decentralised Finance (DeFi) p.896 10.10 Regulation of Funds p.896 10.11 Virtual Currencies p.896 10.12 NFTs p.897 10.13 Stablecoins p.897 11. Open Banking p.897 11.1 Regulation of Open Banking p.897 11.2 Concerns Raised by Open Banking p.897 12. Fraud p.897 12.1 Elements of Fraud p.897

12.2 Areas of Regulatory Focus p.897 12.3 Responsibility for Losses p.898

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