Tag Archives: turkey

Turkey’s new crypto legislation has sparked an influx of 47 license applications. 76 crypto exchanges, including Coinbase and KuCoin, have applied for licenses in Turkey. Turkey has witnessed an enormous spike in interest from crypto companies seeking to enter the industry. The Turkish Capital Markets Board (CMB) has revealed that 76 cryptocurrency firms have sought licenses under the newly adopted legislation. Notable candidates include Bitfinex, Binance TR, and OKX TR.  Crypto Exchanges...

CoinspeakerCrypto Adoption in Turkey Boosted by Unending Lira Woes, Government Moves In with Tax Reforms Although the stock tax remains pending for now, Erdogan and his officials are keen on taxing crypto transactions. Crypto Adoption in Turkey Boosted by Unending Lira Woes, Government Moves In with Tax Reforms

The crypto volume market share of the Turkish lira (TRY) has hit an all-time high amid the currency’s depreciation and foreign exchange volatility in the country. According to a report by crypto research platform Kaiko, the uptick in TRY’s crypto volume market share caused the currency to rally past the euro (EUR), becoming the third largest fiat currency by volume. TRY Becomes Third Largest Fiat by Volume Kaiko’s analysis found that TRY’s crypto volume market share hit an...

TL;DR Turkish crypto exchange Bitcointry successfully integrates the Shibarium chain, sparking optimism for a potential SHIB or BONE rally. LUCIE, Shibarium’s Marketing Strategist, highlights the integration and poses a question about the next exchange to do the same. Launched at the end of August to enhance Shiba Inu’s performance by reducing transaction fees and increasing speed, the network recently surpassed one million blocks and is approaching 3.5 million transactions....

KuCoin’s most recent report focused on the crypto trends in Turkey estimated that 52% of the locals aged 18 to 60 have already invested in bitcoin or alternative coins. The figure was 40% in November 2021, indicating that Turks have shown great interest in employing digital assets as a hedge against inflation in the past few years. The country has been coping with severe economic issues as of late, seeing its national currency plunging to record levels against the US...

Some residents of Turkey have reportedly revived their interest in the cryptocurrency market, more specifically in the stablecoin USDT, following a new decline in their national currency and fears that severe inflation could start looming again across the country.  The downtrend of the Turkish lira (which has been evident in the past few years) intensified shortly after Recep Erdogan won the presidential elections, securing himself another five years as the political leader....

The Presidential elections in Turkey (May 14) could have a pivotal role in the country’s future financial condition. They could also affect the local cryptocurrency industry since the two leading candidates – Recep Erdogan (the current political leader) and Kemal Kilicdaroglu – share entirely different views.  The former declared “war” on bitcoin in 2021 and supported the central bank’s efforts to launch digital lira. Kilicdaroglu stands on the opposite corner as a proponent...

One of the leading cryptocurrency exchanges – OKX – intends to open an office in Türkiye in the following months. The company has already interacted with the Turkish market, launching direct deposits and withdrawals in the country’s official currency – TRY. It also put its name among the numerous crypto platforms that sent aid packages to the nation when a devastating earthquake hit it in February. Another Expansion Step OKX’s President – Hong Fang – said the exchange has...

Faruk Fatih Özer – the founder of crypto exchange Thodex – has been extradited to his home country, Turkey, where he faces charges of fraud and operating a criminal organization. Thodex was one of the largest crypto exchanges in Turkey. It later turned out to be an exit scam, with Özer disappearing with $2.6 billion worth of crypto funds leaving around 400K users high and dry. According to the latest report by state media, the 27-year-old founder was detained by police upon...

The largest cryptocurrency exchange – Binance – added its name to the list of companies that provided help to Turkish residents affected by the recent devastating earthquake.  It will give away $100 worth of BNB to each of its local users and launched a public donation address where everyone can contribute. Binance vowed to airdrop $100 in BNB to customers situated in Turkey’s most damaged cities from the earthquake, including Gaziantep, Kilis, Kahramanmaraş, Adana, Malatya,...