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Sponsored briefing: Is Turkey’s first regulation on crypto-assets just a beginning?

Sponsored briefing: Is Turkey’s first regulation on crypto-assets just a beginning?

Although it remains unclear whether cryptocurrencies will replace traditional money in the near future or ever, they have become a global phenomenon lately. Likewise, the economic turbulence in Turkey has led to a surge in swapping the local currency for cryptocurrencies despite their price volatility. According to a recent survey, Turkey has the fourth-highest rate of cryptocurrency use out of 74 countries1.

Background of Recent Developments

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