**Crypto Giants Eye Turkey Amid Regulatory Shifts**
The Turkish crypto scene is buzzing as big names like Coinbase and KuCoin rush to secure business licenses. This comes after Turkey's Capital Markets Board (CMB) updated its regulations, sparking a wave of applications.
**Key Points:**
- **License Rush:** Initially, 47 companies applied; now, the list has grown to 76, including Coinbase, KuCoin, and Gate.io.
- **Existing Players:** Binance, Bitfinex, and OKX were already in the mix.
- **Regulatory Hurdles:** Being on the list doesn’t mean approval. Companies need formal CMB authorization, pending secondary legislation.
- **Market Potential:** Turkey ranks as the fourth-largest crypto market globally, with a trading volume of $170 billion.
Turkey's evolving regulations and strategic market position make it a hotspot for crypto firms aiming to expand.