Source: CNBC News
Some Turks have turned to crypto as a way to protect their savings from skyrocketing inflation and the weakening of its currency, the lira. But there have been growing calls for regulation of the market due to concerns around fraudulent activity. Turkey’s central bank banned the use of digital assets for payments earlier this month.
A Cryptocurrency Firm called Thodex, went offline with its CEO reportedly leaving the country. An another Turkish cryptocurrency exchange firm Vebitcoin said it had ceased all activities.