Turkeys $200 limit on cash payments: What does it mean for crypto?

Should the Turkish government pass new amendments, all cash payments above $205 would be subject to fines of 10%.

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Crypto Gold Rush in Turkey: 47 Firms Race for Licenses, Big Names Missing

Turkey has just announced that 47 cryptocurrency companies have registered for licenses under the new regulations published by the Capital Markets Board (CMB). Some of the applicants are Bitfinex, Binance TR, and OKX TR. However, several other major exchanges, such as Coinbase, Bybit, KuCoin, MEXC, and Gate.io, are not included in the first list of […]

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Turkish Authorities Arrest Man in $4 Billion Cryptocurrency Scam

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Coinbase, KuCoin, others file crypto license applications in Turkey

As the Turkish Capital Markets Board continues to update the list and companies work to meet regulatory requirements, the Turkish crypto market is poised for significant changes.

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Turkeys Crypto Market Expands with Increase in Licensed Exchanges

Turkys cryptocurrncy mrkt hs xprincd rmrkbl trnsformtion with surg in licnsd xchngs. Following strictr rgultions by th Cpitl Mrkts Bord (CMB) in July 2024, th numbr of pprovd xchngs grw from 47 to 76. Mjor intrntionl pltforms, including Coinbs, KuCoin, Binnc, nd OKX, hv ntrd th mrkt, signling Turkys rising dominnc in th […]

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Crypto Exchanges Eye License in Turkey Amid Regulatory Changes

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Coinbase, KuCoin Eye Turkey Crypto Licenses Amid Growth

Coinbase and KuCoin are among the significant cryptocurrency exchanges that have recently sought licenses to operate in Turkey,…

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Binance Scales Back: Turkish Language to Be Phased Out for Compliance

Binance has announced significant changes to its services inTurkey. According to the firm, this is part of its focus on transparency andregulatory compliance.

Binance Adjusts Turkish Services

Binance has been monitoring regulatory developments inTurkey. The company believes in working with regulators to ensure a compliantenvironment for users. Binance supports the development of a regulatoryframework to safeguard the ecosystem. To ensure legal compliance in Turkey andglobally, the company is taking necessary measures.

Binance.com will remain accessible from Turkey. However,there will be adjustments to services. The Turkish language option will begradually turned off within three months. Marketing activities for Turkishusers will be completely halted.

Turkey's new crypto framework is a positive step forward for the industry.At #Binance, we support these developments and will keep collaborating with regulators for a secure, compliant crypto ecosystem.More details here https://t.co/1ueOliKUYd

Binance acknowledges that these changes will affect someusers. The company assures that user safety and experience remain a priority.All user funds are safe, and deposit/withdrawal functions will remainavailable.

UAE Binance Account Migration

Meanwhile, Binancehas announced that it will move its UAE users from its global platform tothe locally regulated Binance FZE exchange, known as Binance Dubai, as reportedby Finance Magnates. Thisfollows the acquisition of a full Virtual Asset Service Provider license fromDubai's Virtual Assets Regulatory Authority.

The transition requires UAEresidents to update their Know Your Customer information by December 15, 2024.Email instructions will guide users through this process. During the transition, users can still access their currentBinance Global accounts.

After December 15, accounts will be automaticallytransferred to Binance Dubai, with login details unchanged. Binance FZE willprovide services such as exchange, broker-dealer, lending, borrowing, andvirtual asset management, supporting over 300 virtual assets with local fiatcurrency transactions.

Users must decide between maintaining their Binance.com orBinance Dubai account, as multiple accounts per user are not permitted.Accounts not updated by the deadline will be restricted to withdrawals only.

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Binance Adjusts Services in Turkey Following New Crypto Regulations

Binance announces significant changes to its services in Turkey to comply with new crypto regulations, including halting Turkish language options and direct marketing activities. (Read More)

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Meme Tokens Surge Past Bitcoin in Turkish Trading Activity This Year

Binance is currently the undisputed market leader in the Turkish crypto ecosystem.

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Tether and BTguru Collaborate to Boost Crypto Adoption in Turkey

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Stablecoin Issuer Tether Launches Educational Program to Boost Crypto Adoption in Türkiye

Stablecoin issuer Tether has partnered with atechnology and strategy company specializing in crypto assets todevelop educational initiatives in Türkiye. This collaboration reportedly aimsto equip individuals with the knowledge to navigate the digital age.

MoU to Advance Crypto Education

According to the press release, the new agreement with BTguru reflects Tether's broader aspiration for Tether EDU, a global initiativededicated to making education accessible and boundless. The MoU has outlinedplans to develop comprehensive programs that introduce private and publicstakeholders in Türkiye to the benefits of blockchain and peer-to-peertechnology.

These programs will reportedly utilize BTguru's connections to facilitate discussions with financial institutions, explorereal-world asset tokenization, and evaluate regional payment networks utilizingBTguru Core.

Speaking about the new agreement, Paolo Ardoino, Tether's CEO, mentioned: "Tether and BTguru believe in the transformative power ofdigital assets and peer-to-peer technologies. This MOU has the potential toprovide a solid foundation for the responsible and informed use of digitalassets. We are excited to be part of a movement that could promote freedom andeducate people across Türkiye."

Tether's education initiative extends beyond Türkiye.The USDT issuer is reportedly engaging a regulated digital asset infrastructureplatform in the MENA region to enhance digital asset education across theMiddle East.

Tether Signs MoU with BTguru to Drive Digital Asset Education in TürkiyeLearn more: https://t.co/UhFEMs5d4s

Expanding Educational Efforts

Türkiye ranks as the fourth-largest nation incryptocurrency transaction volume, according to the International TradeAdministration U.S. Department of Commerce, as cited by Tether. Also,Chainalysis reported that Türkiye received approximately $170 billion in cryptotransactions over the past year, driven by the need to counteract currencydevaluation.

Elsewhere, the second largest stablecoin issuer,Circle, was recently registered as an electronic money institution inFrance. This approval makes Circle one of the compliant stablecoin issuersunder the European Union's cryptocurrency regulations.

The issuer of USD Coin stablecoin obtained the e-moneylicense from France's banking industry regulator, the Autorité de ContrôlePrudentiel et de Résolution. As a result, Circle is now compliant with the EU'sMarkets in Crypto-Assets regulations.

Still, in the stablecoin sector, Paxos has received full approval from Singapore to issue stablecoins. The license awarded by theMonetary Authority of Singapore enables the firm to offer digital payment tokenservices through its entity, Paxos Digital Singapore Pte. Ltd. The regulatorymilestone broadened the number of markets Paxos is authorized, which includethe US and the UAE.

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Tether signs MoU to promote crypto freedom in Turkey

Stablecoin giant Tether is eager to learn about the possibilities of introducing new business lines into Turkeys banking in cooperation with the local crypto firm BTguru.

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BtcTurk CEO steps down from one of Turkeys biggest crypto exchanges

Ozgur Guneri spent seven years as the head of the popular Turkish crypto exchange. He will remain with the company as a director.

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Turkey denies plans to tax crypto, stock gains

Turkey has dismissed levies on profits from stocks and cryptocurrencies but is exploring a transaction tax as part of efforts to regulate the tax on financial transactions.

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Terraform Labs to shut down after $4.5B SEC settlement: Law Decoded

Terraform Labs plans to sell key projects within the Terra ecosystem and give the community control of the Terra blockchain.

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Turkey targets crypto with new 0.03% transaction tax

Turkey introduced a 0.03% tax on crypto transactions as part of a major fiscal reform to address the budget deficit caused by recent earthquakes.

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Turkish Liras Crypto Volume Market Share Hits All-time High

The rising share of TRY crypto volume can also be attributed to Binance's recent loss of banking partners.

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Bitget Strikes Deals with Turkish Sports Icons for Campaign Expansion

Bitget, the cryptocurrency exchange and Web3 company, hasannounced the addition of Turkish athletes Buse Tosun Çavuolu, Samet Gümü,and lkin Aydn to its MakeItCount campaign. The campaign, which originallyfeatured Lionel Messi in 2022, seeks to broaden Bitget's objective of empoweringits Turkish user base.

Adding Turkish Athletes to the Roster

The partnership involves collaboration with Turkish NationalAthletes Buse Tosun Çavuolu (Wrestling team), Samet Gümü (Boxing team), andlkin Aydn (Volleyball team) under the MakeItCount Campaign.

Bitget's decision to partner with Turkish athletes comesamidst growth in Turkey's cryptocurrency market. Bitget itself has experienced substantialgrowth in signups, trading volume, and net deposit amounts from Q4 2023 to Q12024.

"At Bitget we thrive on perseverance and keep on goingdespite what obstacle may come our way. As the leading crypto platform webelieve in the long term vision of financial freedom and have a strong positivepassion in helping the ecosystem grow."

"For us, wins and losses are bothmilestones and there's no progress is too small. Our partners reflect thisbelief," said Vugar Usi Zade, Chief Operating Officer, Bitget.

Since 2021, Bitget has been forging partnerships withleading sports clubs and players globally. Previous partnerships includecollaborations with prominent football clubs, esports entities, and legendaryfigures like Lionel Messi.

Bitget Names New CEO

GracyChen, a seasoned entrepreneur with over a decade of experience, has beenappointed as the new CEO of Bitget, as reported by Finance Magnates. Chen's journey inthe blockchain realm started in 2014 as a TV host, where encounters withexperts like Tim Draper sparked her interest.

Joining Bitget as ManagingDirector in June 2022, she led growth strategies and global expansions,resulting in significant user base growth. Now, as CEO, Chen aims to continueBitget's success. Alongside her role, she remains a Forbes columnist and ajudge on "Killer Whales," a reality crypto TV show.

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Turkish crypto bill: 5 things to know before its introduced

Turkey was expected to introduce crypto legislation in early 2024, but the local parliament is yet to report on the process.

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