Cryptocurrency companies are flocking to Turkey, as evidenced by 47 firms applying for operating licenses under new regulations. This enthusiasm follows the implementation of the “Law on Amendments to the Capital Markets Law,” which establishes a clearer regulatory framework for crypto assets. Major exchanges including Bitfinex, Binance TR, and OKX TR are among the applicants, positioning Turkey as a welcoming destination for digital finance innovation.

Despite lacking comprehensive crypto-specific legislation, Turkey is not without regulation. Measures from the Central Bank and the Financial Crimes Investigation Board ensure a monitored market, focusing on anti-money laundering and prohibiting crypto use in payments. These guidelines lay the groundwork for a secure trading environment, which is crucial as Turkey hosts one of the world’s largest crypto markets.

With a robust trading volume and high adoption rates, Turkey’s proactive regulatory stance is enhancing its role in the global crypto economy. The surge in applications not only underscores the country’s appeal but also its commitment to fostering a regulated and thriving cryptocurrency sector.

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