Turkey has seen a significant surge in interest from Cryptocurrency companies looking to operate in the country. The Capital Markets Board of Turkey (CMB) has announced that 47 Cryptocurrency companies have applied for licenses under the new regulations. According to the announcement, the influx of Crypto companies includes well-known Exchanges such as Bitfinex, Binance TR and OKEx TR.
The surge in applications follows the implementation of the “Law on Amendments to the Capital Markets Law,” which came into effect on July 2. The law aims to provide a clear regulatory framework for crypto asset service providers in Turkey. Turkey’s proactive stance on cryptocurrency regulation is not surprising, given its significant role in the global crypto economy. The country has one of the highest cryptocurrency adoption rates in the world.
