Coinbase, KuCoin, Gate IO Join Crypto Licensing Pursuit In Turkey – BitcoinWorld
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Top crypto exchanges like Coinbase, KuCoin, and Gate IO are seeking licensing pursuit in Turkey. The country has clearer crypto regulatory rules than the US. Many crypto trading platforms are looking to gain more global relevance with registrations in key market hubs. Top digital currency trading platforms like Coinbase Global Inc., KuCoin, and Gate IO have joined the quest for licensing in Turkey. With some of these businesses facing regulatory challenges in the United States, they now appear poised to move their businesses to more favorable terrain. The choice of Turkey for these exchanges hinges on clearer regulation in the country. Will Turkey Emerge as a Hub for Crypto Operations? Coinbase, KuCoin, and Gate are just three of the crypto exchanges pushing for acceptance in Turkey. The trio have filed for licensing and declared that they will conduct their businesses in accordance with the Turkish Temporary Article 11 of the Capital Markets Law No. 6362 (Law). In a publication on the Capital Markets Board of Turkey’s website, these three crypto exchanges were among a “temporary list” of 76 other organizations seeking access to operate in Turkey. If granted, these entities will have to comply with the Turkish regulatory body’s laws, which they hope will favor their business operations compared to the challenges confronting them in the U.S. Market experts say the US strain has prompted some exchanges to move to other countries, particularly those with more crypto-friendly dispositions and regulatory frameworks. In recent times, there has been an increasing expansion of crypto exchanges to other countries and regions not just to enjoy fairer laws but also to claim market dominance. Binance, which was suspended from the Indian market earlier this year, has pushed for regulatory compliance with the Indian authorities to regain its market share in the Asian nation. Competitiveness…
Filed under: News - @ August 17, 2024 7:24 pm