Techub News reports that Coinbase has withdrawn its pre-application to enter the Turkish cryptocurrency market, according to Cryptonews. Additionally, QNB Digital Assets, a subsidiary of Turkey's QNB Bank, has also withdrawn its application. The reason for Coinbase's withdrawal is currently unclear.

Techub News previously reported that following the update of regulatory guidelines by the Capital Markets Board of Turkey (CMB), there has been a surge in institutions applying for cryptocurrency-related licenses. The CMB stated that 76 institutions are applying, including Coinbase, KuCoin, and Gate.io.