Turkey’s Regulatory Board CMB Moves Against Bitcoin

Turkey’s Regulatory Board CMB Moves Against Bitcoin
фото показано с : beincrypto.com

2020-1-6 21:34

\n

Turkey’s regulatory group, the Capital Markets Board (CMB), is planning to accelerate its Bitcoin and cryptocurrency regulation efforts by 2020. The move comes largely due to pressure from public institutions and local authorities.

The CMB will likely emphasize surveillance, regulation, and audit of Bitcoin, as well as for cryptocurrencies in general, according to BeInCrypto Turkey. To date, Turkey does not have a fixed law governing cryptocurrency usage in Turkey.

Against the Grain

Turkey currently shows more substantial Bitcoin usage than other countries in Europe. The overall EU population using Bitcoin is around 25%. Turkey has more than 45% of its population active in Bitcoin and other cryptocurrencies.

Nevertheless, the CMB has already stated it will increase regulation. The board may take steps not only for cryptocurrencies but also for cryptocurrency exchanges. Sources close to the CMB say that the risks in cryptocurrencies are substantial, but the governance will help control it.

With the current climate so lax, the government has seen cryptocurrencies used for nefarious purposes. This is, of course, possible with cash, but regulations are nevertheless helpful.

Turkey’s control systems are just one of many countries seeking to implement greater levels of oversight. The US government is also considering regulations, particularly of Bitcoin and other cryptocurrencies.

The issue is largely due to the risk of money laundering and terrorist usage. However, the difficulty in collecting taxes also raises some concerns for national governments.

Other more authoritarian regimes like China have already constrained Bitcoin usage and trading. The Chinese government has now announced the issuance of its own internal digital currency—a far cry from open markets.

Bitcoin’s Buoyancy

The remarkable thing about Bitcoin is its buoyancy in times of complexity. The most recent announcement is certainly traumatic, but Bitcoin’s utility is not mitigated by the news.

In fact, as governments increase control, it seems greater levels of freedom are sought by the populace. The demand increase will likely also see increases in value.

The post Turkey’s Regulatory Board CMB Moves Against Bitcoin appeared first on BeInCrypto.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Bitcoin (BTC) на Currencies.ru

$ 98241.4 (+0.74%)
Объем 24H $100.105b
Изменеия 24h: 5.05 %, 7d: 10.31 %
Cегодня L: $94006.77 - H: $98359.48
Капитализация $1943.755b Rank 1
Цена в час новости $ 7411.06 (1225.61%)

bitcoin turkey cmb regulatory board largely move

Источник: beincrypto.com

bitcoin turkey → Результатов: 85


Фото:

Bitcoin Just as Popular as Forex in Turkey

Bitcoin is as popular as forex in Turkey — a country whose currency continues to tank, as the top-ranked cryptocurrency is seeing growing adoption across the land. Bitcoin a Viable Option in Turkey Tweeting on Sunday (September 8, 2019), Didi Taihuttu of “The Bitcoin Family” — who famously sold all his belongings to go all-in on bitcoin revealed the growing popularity of the cryptocurrency in Turkey.

2019-9-10 21:00


Фото:

Bitcoin Sentiment Shines in Turkey, Diminishes in the Rest of Europe

A report published by ING shows that the percentage of the population that believes in Bitcoin is slowly decreasing, indicating skepticism for cryptocurrencies in general. With the exception of Turkey, Poland, and Romania, most of Europe does not believe that cryptocurrencies will be an integral part of the financial system in the coming years, AugustRead MoreRead More.

2019-8-19 01:00


BLOCKCHAIN PROPULSION and KOOPHub partner to support blockchain startups in Turkey

CryptoNinjas - Bitcoin, Cryptocurrency & Blockchain Asset SourceBLOCKCHAIN PROPULSION, a recently launched Swiss-based global accelerator program designed to build blockchain start-ups and enterprises into successful businesses, has announced a new strategic partnership with KOOPHub to support blockchain startups in fundraising, project implementation, and expanding into global markets.

2019-8-7 00:44


The TIE Publishes Study About Crypto Sentiment All Over The World; Bitcoin and Libra Lead the Way

Do you know which countries are the ones that are most positive on Bitcoin? New research made by The TIE, a crypto trading platform, was recently posted on Twitter. 10/ The Netherlands is actually the country with the second most #Link conversations, followed by the UK, Australia, Canada, and Denmark. Turkey which has the fourth […]

2019-7-5 20:12


Фото:

Turkish University Launches Blockchain Center at a Boston University

In a bid to provide the relevant information and infrastructure needed for the study of distributed ledger technology (DLT), Turkey’s BlockchainIST, Bahcesehir University (BAU), the region’s first university-level center for blockchain research, has erected a state-of-the-art DLT center at Boston’s Northeastern University, reports Daily Sabah on May 8, 2019.

2019-5-8 19:00


USA Leads with Russia, Brazil & Turkey in Tow as Countries Actively Buying Cryptoassets: DataLight Report

Bitcoin market today is worth over $90 billion and the entire market capitalization is at $170 billion that at its peak has been more than $800 billion. What started out as a few tech hobbyists mining bitcoin a decade back has now exploded into an international industry today worth billions of dollars and in the […]

2019-4-30 18:40


дальше еще 36 новостей →

Партнеры Currencies.ru

Аналог Notcoin - Blum - Играй и зарабатывай Монеты



Реклама на Currencies.ru

Самое свежее на Currencies.ru

Binance sunsets referral program in Turkey due to local regulations

Crypto exchange Binance has ended its retail referral program in Turkey, just months after registering its services with the local regulator. Cryptocurrency exchange Binance is changing its operations in Turkey, announcing the termination of its referral program for retail customers…

Turkey, Russia ban Discord over child abuse allegations

Turkey and Russia have both moved to ban the popular communication platform Discord, citing concerns over child abuse and other criminal activities.  In Turkey, authorities blocked access to Discord after a court ruling linked the platform to incidents of child…

Turkey decides against taxing crypto profits this year

Vice President Cevdet Yilmaz confirmed that Turkey will not implement a tax on profits from crypto or stock trading this year. The government previously considered such a tax but has focused on reducing existing tax exemptions, according to Bloomberg reporting.…

Bybit unveils first Shariah-compliant Islamic crypto account

Crypto exchange Bybit has introduced an Islamic crypto account tailored to its Muslim users, according to a Sept. 24 statement. Bybit CEO Ben Zhou shared the update in a social media post on X, stating: “[The] World first Crypto Islamic account is now fully live on Bybit.