Coinbase, Citing evolving regulatory frameworks, Turkey announced significant adjustments to its global operations, including withdrawing from the crypto market and discontinuing USDC rewards in the European Economic Area (EEA).
Coinbase is Exiting Turkey, Adjusting USDC Rewards According to MiCA Compliance
Coinbase withdrew its application for Türkiye amid market changes. Turkey’s financial regulator announced that Coinbase has withdrawn its preliminary application to enter the country’s cryptocurrency market.
Coinbase was among 14 companies that applied for liquidation, including Qatar National Bank’s subsidiary in Turkey, QNB Digital Assets.
Other companies originating from Turkey include Finceptor, Koinim, Stanfex and XYZ Technology. However, firms such as Bitfinex, OKX, Bitlo, Rain Software and Bitbns continue to seek custody licenses, reflecting a mixed landscape for the country’s cryptocurrency market.
Coinbase showed interest in Turkey earlier this year, at a time when the country’s cryptocurrency adoption was increasing. The company did not make a statement about its withdrawal.
USDC Rewards Ended for EEA Users
Coinbase notified its users on November 28 that it would discontinue USDC rewards in the EEA starting December 1, citing compliance with Crypto-Asset Markets (MiCA) regulation.
*This is not investment advice.
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Source: https://www.bitcoinsistemi.com/dev-kripto-para-borsasi-turkiye-pazarindan-ayriliyor-mu-basvuru-geri-cekildi-iste-detaylar/
