Crypto Market Flourishes In Turkey Amid Growth In Licensed Exchanges

Interest in the cryptocurrency market of Turkey has skyrocketed. The country’s leading exchanges have been racing for licenses to operate. Applicants rose from 47 to 76, and the impressive list includes such popular names as Coinbase, KuCoin, and Gate.io.

This surge follows closely on the heels of Turkey’s recent push to offer more regulatory clarity for crypto exchanges and their service providers. It makes updates to the guidelines of the Capital Markets Board of Turkey for the purpose of informing the public about organizations that have declared their intention to comply with Capital Markets Law No. 6362.

Exchanges Eye Turkey’s Potential

Coinbase, KuCoin, and Gate.io, are seeking licenses from Turkey—most likely due to the expanding demand for crypto in that country. Now they see quite large potential because of the growing demand for crypto, and trying in other regions is quite a challenge, mostly in the United States.

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