Turkey considers crypto regulation following the collapse of two exchanges

The global crypto market cap is $2.04 trillion with a 24-hour volume of $139.62 billion. The price of Bitcoin is $52,771.42 and the BTC dominance is at 48.4%.

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by Liam Frost

Turkish authorities are planning to start regulating the cryptocurrency space in the country after two local crypto exchanges allegedly conducted an “exit scam” within a week, as per a report on business news outlet Bloomberg yesterday.

As CryptoSlate previously reported, major Turkish crypto exchange Thodex, which held at least $2 billion worth of its users’ crypto in custody, has abruptly stopped all operations last Wednesday. Local police officers later detained 62 people across eight provinces in connection to an ongoing investigation while the exchange’s CEO reportedly fled the country.

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