Global #Turkey

In a high-profile case making waves across the globe, Swedish national Szakacs, now known as Emre Avcı after acquiring Turkish citizenship, has been arrested in Turkey on serious allegations of orchestrating a pyramid scheme that allegedly defrauded investors of $4 billion.

Leading digital currency trading platforms, including Coinbase Global Inc., KuCoin, and Gate IO, are pursuing licensing in Turkey as they face regulatory hurdles in the United States. This move reflects a broader trend of crypto exchanges seeking more favorable regulatory environments to support their operations and growth.

Recently, Turkey’s regulatory authorities updated the list of firms applying for crypto business licenses, increasing the count from 47 to 76. This expansion sees heavyweight additions such as Coinbase, KuCoin, and Gate.io joining already approved major exchanges like Binance, Bitfinex, and OKX.

In a significant update, Turkey's Treasury and Finance Minister Mehmet Simsek has stated that the government has no intentions to levy taxes on gains made from "stocks and cryptocurrencies."

According to reports from NTV, the Turkish Grand National Assembly is set to receive a bill defining cryptocurrencies today.