Turkey is rapidly becoming a key player in the global cryptocurrency market as major companies like Coinbase and KuCoin race to secure business licenses in the country. Following recent regulatory updates from the Turkish Capital Markets Board (CMB), the number of applicants for these licenses has surged from 47 to 76, reflecting the growing interest in Turkey’s crypto sector.

Leading exchanges such as Binance, Bitfinex, and OKX are already in the licensing process, underscoring Turkey’s increasing importance in the crypto landscape. Although the CMB has emphasized that inclusion on the list of applicants does not guarantee approval, the wave of interest highlights the sector’s confidence in Turkey’s potential.

With Turkey ranking as the fourth-largest crypto market globally, the surge in applications signifies the country’s commitment to establishing a well-regulated and secure environment for cryptocurrency activities. This regulatory push could further solidify Turkey’s role as a central hub for digital assets.

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