BitPanda CEO Eric Demuth explains why regulations are necessary to avoid a “Wild West” for crypto, and names first stop outside of the EU.
Turkey is a southwestern Asian country with a population of 80 million people and an area of 783 thousand kilometers. Turkey is a big and influential developed economy with the 17th largest nominal GDP and has a leading position in exports of such goods as agricultural products, vehicles, construction materials and consumer electronics. The strongest companies in Turkey are mostly from financial, telecommunication and construction industries. The Turkish banking sector is one of the most robust and widespread financial sectors in the Middle East. Bitcoin is not regulated in Turkey. Turkish authorities don’t consider Bitcoin to be a currency or electronic money. However, Bitcoin is pretty popular in Turkey, as both its usage and demand are growing. The Turkish lira-Bitcoin exchange BTCTurk offers the exchange of Bitcoin and foreign currency in the Istanbul airport in Bitcoin ATMs.
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