The Central Securities Depository of Türkiye (MKK) has begun sharing market data it collects under the Crypto Asset Central Registry System (KVMKS) with the public on a daily basis. Burcu Küçükünal, CEO of Stablex, an Akbank subsidiary, noted that publishing data reported to MKK by regulated platforms within a standardized framework could create a shared reference point for the sector, adding that regular data sharing would help make the market more measurable.
Türkiye’s crypto asset market is going through a period of transformation shaped by licensing processes, custody infrastructure, capital markets regulations and operational standards. MKK’s move to begin publishing on a daily basis the market data it collects under KVMKS also offers a new opportunity to track the sector’s development through data.
A SHARED REFERENCE POINT FOR THE SECTOR
Noting that assessments of the size of Türkiye’s crypto market, the number of investors, and the platform ecosystem have so far had to rely on various studies and industry estimates, Küçükünal said that publishing data reported to MKK by regulated platforms within a standardized framework could create a comparable data foundation. “Having a shared reference point for the sector can help investors, as well as regulatory bodies, financial institutions, academics, research firms, media and institutional investors, access more data about the market and base their assessments on that data,” Küçükünal said.
Noting that Stablex views MKK’s data sharing as important for the development of the sector’s data infrastructure, Küçükünal said, “We attach importance to the increase in regular and standardized data production within the crypto ecosystem. We believe that this kind of data infrastructure can contribute over time to Türkiye’s goal of becoming a regional digital asset hub.”
DATA QUALITY AND REPORTING WILL BECOME MORE VISIBLE
Noting that the regular publication of data could also diversify the criteria used in assessing crypto asset service providers, Küçükünal said that factors such as data quality, operational discipline, reporting accuracy, compliance with the regulatory framework and sustainable growth could become more visible. Noting that standardized data production could expand the dataset that banks, portfolio management companies and other financial institutions can draw on for their market and risk assessments, Küçükünal said this structure could, over time, also make it possible to track the sector’s development more comprehensively.
HISTORICAL DATA WILL MAKE IT EASIER TO TRACK THE SECTOR’S DEVELOPMENT
Noting that the data now being disclosed daily will form historical data series over time, Küçükünal said, “Going forward, investor behavior, market growth trends, asset distributions, transaction volumes and sector development indicators will be able to be analyzed more comprehensively. This data can become a resource that is used not only in regulatory processes but also in product development, risk management and innovation.”
