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Coinbase, KuCoin, others file crypto license applications in Turkey

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Turkey is witnessing a significant surge in cryptocurrency license applications as the country intensifies its regulatory oversight of the digital asset industry. The uptick in applications comes as Turkey’s financial authorities push for stricter controls to protect investors and curb illicit activities in the rapidly growing crypto sector.

In recent months, the Turkish government has ramped up efforts to regulate the cryptocurrency market, introducing new rules that require exchanges and related businesses to obtain licenses to operate legally. This regulatory push has led to a wave of applications from both local and international crypto firms eager to comply with the new requirements and continue their operations in one of the world’s most active cryptocurrency markets.

The increased scrutiny follows several high-profile incidents in Turkey’s crypto space, including the collapse of local exchanges and allegations of fraud, which have heightened concerns about the security and stability of the market. As a result, the government has been keen to implement measures aimed at safeguarding investors and ensuring that crypto activities are conducted within a legal framework.

Despite the tightening regulations, the demand for cryptocurrencies in Turkey remains robust, driven by economic factors such as inflation and currency devaluation. Many Turkish citizens have turned to digital assets as a hedge against these economic challenges, further fueling the growth of the crypto market in the country.

As Turkey continues to refine its regulatory approach, the surge in license applications indicates that crypto businesses are willing to adapt to the evolving legal landscape. However, the true impact of these regulations on the market’s dynamics and the broader adoption of cryptocurrencies in Turkey will become clearer in the coming months as the new rules take full effect.

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Bitcoin price risks drop to $71K as Trump tariffs hurt US business outlook

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Bitcoin is setting its sights on the $71,000 mark as market conditions shift in response to geopolitical and economic developments, including a new tariff agreement and weakening U.S. business sentiment.

Recent market activity suggests that Bitcoin is benefiting from concerns over traditional economic indicators, with investors turning to digital assets as a hedge against economic uncertainty. A rare slump in U.S. business outlook has fueled speculation that risk assets, including Bitcoin, could see increased inflows.

Additionally, ongoing global trade negotiations and tariff adjustments have contributed to market volatility, prompting investors to seek alternative stores of value. Analysts suggest that if macroeconomic pressures persist, Bitcoin could continue its upward trajectory, potentially testing the $71,000 resistance level.

Despite short-term fluctuations, Bitcoin remains a focal point for investors navigating inflation concerns, regulatory shifts, and global economic trends. The coming weeks will be critical in determining whether Bitcoin can sustain its momentum and break through key price barriers.

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Crypto donations top $1B in 2024, gain traction after Myanmar, Thailand quake

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Changpeng “CZ” Zhao, the former CEO of Binance, has donated 1,000 BNB to aid relief efforts following a powerful earthquake that struck the Thailand-Myanmar border region. The donation, valued at approximately $600,000, aims to support those affected by the disaster and assist in recovery operations.

The earthquake caused significant damage in several areas, displacing residents and impacting local infrastructure. CZ’s contribution highlights the growing role of cryptocurrency in humanitarian aid, providing fast and transparent relief funding.

The donation will be distributed to organizations working on the ground to deliver emergency assistance, including shelter, food, and medical supplies. Crypto-based aid is increasingly being utilized in disaster response efforts due to its efficiency in reaching affected communities without the delays of traditional banking systems.

As the affected regions begin the recovery process, the crypto community continues to demonstrate how blockchain technology can play a meaningful role in global humanitarian initiatives.

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Hackers are selling counterfeit phones with crypto-stealing malware

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Security researchers have uncovered a wave of counterfeit Android devices preloaded with malware designed to steal cryptocurrency, posing a significant threat to users worldwide. The infected devices, which mimic popular smartphone brands, contain malicious software capable of hijacking digital wallets and siphoning funds.

The malware, embedded at the firmware level, allows attackers to gain remote access, intercept sensitive data, and execute unauthorized transactions. Because the malicious code is deeply integrated into the device’s operating system, it is difficult to detect and remove, making it a persistent threat.

Cybersecurity experts warn that unsuspecting buyers may unknowingly expose their crypto holdings to risk by purchasing these compromised devices from unverified sellers. Users are urged to exercise caution by only purchasing smartphones from trusted retailers and manufacturers.

The discovery highlights the growing sophistication of cybercriminals targeting the cryptocurrency sector. As mobile-based crypto transactions become more common, security measures such as hardware wallet usage and multi-factor authentication are increasingly essential to safeguard digital assets from emerging threats.

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