Coinbase and KuCoin Join Turkey’s Expanding List of Crypto License Seekers

• Coinbase and KuCoin have joined the list of 76 companies seeking crypto licenses in Turkey.
• Turkey’s regulatory clarity is attracting major international digital asset platforms to its market.
• The updated list includes prominent exchanges like Gate.io and local players like BtcTurk.

Coinbase and KuCoin have recently joined a growing list of cryptocurrency exchanges seeking regulatory approval in Turkey. This expansion includes Gate.io, marking a significant increase in the number of companies pursuing registration from 47 to 76. Previously, Binance, Bitfinex, and OKX were among the prominent exchanges listed.

The push for registration aligns with Turkey’s efforts to clarify and enhance its cryptocurrency regulations. The country’s regulatory move is seen as a key development for international digital asset platforms looking to tap into the expanding Turkish market.

A recent Chainalysis report highlighted Turkey’s leadership in cryptocurrency transactions within the Middle East and North Africa region, with the UAE and Saudi Arabia following. This data underscores Turkey’s rising significance in the global crypto landscape.

In addition to Coinbase, KuCoin, and Gate.io, notable names on the updated list include BingX, Nexo, and Crypto.com. Turkish local exchanges such as BtcTurk and Midas are also included in this wave of regulatory applications.

The Capital Markets Board of Turkey has updated its list to provide transparency regarding organizations interested in obtaining licenses. To comply with Turkey’s new regulations, crypto providers must implement key measures such as reporting crypto seizures and cooperating with legal authorities.

Regulatory environments across various jurisdictions have influenced the strategies of crypto exchanges, with some opting to delist certain products to ensure compliance. The European Union’s MiCA law, for instance, has led to similar adjustments by exchanges to align with regulatory requirements.