NewsletterBreaking: CZ Discusses Crypto With Turkey Minister, This Is What’s Cooking?
Binance chief executive officer CZ had on Wednesday held discussions with Turkey authorities as the country prepares to regulate crypto. In the last few months, the country has been working on bringing in regulations for virtual currencies. Also, the country serves as a significant market for Binance’s services with a huge user base in the country.
CZ Discusses Blockchain Ecosystem With Turkey Minister
On Wednesday, CZ had a virtual meeting with Dr. Nureddin Nebati, the minister of treasury and finance for Turkey. During the meeting, the two discussed blockchain ecosystem and crypto assets. The meeting gains prominence as several crypto companies across the world face legal scrutiny and increased regulatory pressure. The minister informed the same in a tweet.
“We had a virtual meeting with Mr Changpeng Zhao, the founder of Binance. Mr CZ and I had discussions on the blockchain ecosystem and crypto assets.”
Turkey Is Key To Binance
While the country’s authorities are chalking out a regulatory strategy for cryptocurrencies, the finance minister took this initiative. Also, Binance is one of the largest players in Turkey’s crypto ecosystem. According to SimilarWeb, Turkey is the leading country sending the highest traffic to Binance last month. With a share of 6.37% traffic for Binance, Turkey is behind Russia at 6.29%. The crypto exchange also holds dominance in Turkey’s financial space. Binance ranks fourth among companies in the financial investing category, as per SimilarWeb.
Meanwhile, CZ recently expressed optimism over the crypto market’s prospects in the wake of the FOMC meeting. He said time was ripe to build on blockchain instead of holding assets in context of growth in the market. CZ stated that crypto companies building currently could go on to become massive organizations. He drew a parallel with the 2000 dot com boom. The dot com burst gave the surviving companies a huge advantage, he added, hinting at the crisis surrounding the market currently.
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more… to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Premium Partners
Delivered every day.
- Insights that move markets
- 100,000 active subscribers
Related Articles
- Peter Brandt Hints at Further Downside for Bitcoin After Brief Rebound
- $1.3T BPCE To Roll Out Bitcoin, Ethereum and Solana Trading For Clients
- Why is the LUNC Price Up 70% Despite the Crypto Market’s Decline?
- CoinShares Fires Back at Arthur Hayes, Dismisses Fears Over Tether Solvency
- Bitcoin Stalls Ahead of FOMC as Analyst Van de Poppe Sees No Break Until Tuesday
- Ethereum Price Holds $3,000 as Bitmine Scoops Up $199M in ETH; What Next?
- Solana Price Outlook Strengthens as Spot ETFs See $15.68M in Fresh Inflows
- Dogecoin Price Gears Up for a $0.20 Breakout as Inverse H&S Takes Shape
- Bitcoin Price Forecast as BlackRock Sends $125M in BTC to Coinbase — Is a Crash Inevitable?
- XRP Price Prediction As Spot ETF Inflows Near $1 Billion: What’s Next?
- Solana Price Outlook: Reversal at Key Support Could Lead to $150 Target
