Coinbase and KuCoin are among a new list of cryptocurrency companies and services looking to register in Türkiye.
the Updated list The list of companies now includes Coinbase, KuCoin, and Gate.io, with the number of organizations increasing from 47 to 76. As crypto.news highlighted last week, the initial list included Binance, the world’s largest cryptocurrency exchange by trading volume, as well as major crypto exchanges Bitfinex and OKX.
Türkiye Sees Growing Attraction to Cryptocurrencies
This news comes on the heels of Türkiye’s move to provide more Organizational clarity For cryptocurrency exchanges and other service providers. The cryptocurrency industry has hailed this move as a decisive and positive step, making international digital asset platforms now eager to enter the growing Turkish market.
According to Chain Analysis Report According to a report released in September 2023, Turkey topped the MENA region in terms of the value of cryptocurrencies in circulation. The UAE and Saudi Arabia ranked second and third, respectively.
Other than the above-mentioned exchanges, some other notable names on the list include BingX, Nexo, and Crypto.com. Local exchanges like BtcTurk and Midas are also included.
Cryptocurrency Regulation
According to an update issued by the Capital Markets Authority, the list allows the public to obtain information about organizations that have announced their interest in obtaining a license and plan to comply with Capital Markets Law No. 6362.
Under Turkey’s new regulatory guidelines, any cryptocurrency provider looking to offer its services and products in the country will have to implement certain key measures. These measures include reporting cryptocurrency seizures and legal cooperation.
Regulatory rules in different countries and jurisdictions have seen cryptocurrency exchanges register, get approved or exit. In some cases, such as the EU’s MiCA, exchanges have chosen to delist certain products to ensure compliance.
Comments are closed, but trackbacks and pingbacks are open.