A recent list of Bitcoin businesses and services considering registration in Turkey includes Coinbase and KuCoin.
The number of companies on the new list has increased from 47 to 76, including Coinbase, KuCoin, and Gate.io.
The first list featured prominent cryptocurrency exchanges Bitfinex, OKX and Binance, the largest cryptocurrency exchange globally based on trading volume.
The announcement follows Turkey’s decision to clarify regulations for cryptocurrency exchanges and other service providers further.
As a result of the crypto industry’s praise for this important and constructive move, foreign digital asset platforms are now eager to join the expanding Turkish market.
In terms of the value of bitcoin traded, Turkey topped the Middle East and North Africa, according to a Chainalysis analysis published in September 2023.
Saudi Arabia and the United Arab Emirates came in second and third, respectively. In addition to the leading exchanges mentioned above, BingX, Nexo, and Crypto.com are a few additional well-known brands on the list. Included are regional exchanges like Midas and BtcTurk.
Crypto Regulation
A Capital Markets Board update states that the list makes information on entities that have indicated their desire to get a license and their intention to abide by Capital Markets Law No. 6362 available to the general public.
Any cryptocurrency supplier wishing to market its goods and services in Turkey must take certain important steps to the country’s new regulatory standards.
These include cooperating with the law and reporting cryptocurrency seizures. Regulation in various nations and regions has caused cryptocurrency exchanges to register, receive approval, or shut down.
Exchanges have chosen to delist some items in certain situations, such as the MiCA law of the European Union, in order to assure compliance.
