Turkey is experiencing a significant increase in interest from cryptocurrency companies seeking to conduct business in the country.
The Turkish Capital Markets Board (CMB) has reported that 47 cryptocurrency companies have submitted applications for licenses under newly-established regulations.
This includes prominent exchanges such as Bitfinex, Binance TR, and OKX TR, but notable exchanges like Coinbase, Bybit, KuCoin, MEXC, and Gate.io have not yet applied for licenses.
The surge in applications comes after the implementation of the “Law on Amendments to the Capital Markets Law” on July 2.
This law aims to establish a regulatory framework for crypto asset service providers in Turkey. The CMB clarified that three companies have declared liquidation, while the applications of those with incomplete or insufficient information are still under review.
