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13 May 2021

Turkey considers crypto regulation following the collapse of two exchanges

Turkey considers crypto regulation following the collapse of two exchanges


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Turkish authorities are planning to start regulating the cryptocurrency space in the country after two local crypto exchanges allegedly conducted an “exit scam” within a week, as per a report on business news outletBloombergyesterday.

AsCryptoSlatepreviously reported, major Turkish crypto exchange Thodex, which held at least $2 billion worth of its users’ crypto in custody, has abruptly stopped all operations last Wednesday.

At the same time, local authorities also consider introducing a capital threshold for crypto exchanges as well as stricter educational requirements for executives at such platforms.

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