Cryptocurrency exchange Coinbase has withdrawn its pre-application to enter the Turkish cryptocurrency market for unknown reasons.
Turkey's financial regulator recently updated the list of companies applying for liquidation, confirming that Coinbase has withdrawn its application. Earlier this year, Coinbase joined the race to participate in the operation of Turkey's cryptocurrency market.
QNB Digital Assets, a branch of Turkey's QNB Bank, withdrew its application along with Coinbase, joining Finceptor, Koinim, Stanfex and XYZ Technology.
Meanwhile, Bitfinex, Bitbns, Bitlo, OKX and Rain Software are still looking for opportunities in Turkey by applying to provide custody services. The latest changes bring the number of companies applying for liquidation in Turkey to 14, while 77 applicants are still being processed.
It is worth mentioning that in October Binance announced that it would terminate its retail referral program in Turkey to comply with local regulations. Turkey has tightened cryptocurrency regulation this year. Earlier this year, the government introduced comprehensive legislation to strengthen supervision of digital asset exchanges. (Cryptonews)