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Following the collapse of two local cryptocurrency exchanges and new regulations banning cryptocurrency-based payment services, the Turkish government is now reportedly planning to institute new measures to serve as a custody middleman for cryptocurrency investors.

“The government is planning to establish a central custodian bank to eliminate counterparty risk following the collapse of the Thodex and Vebitcoin exchanges last week, according to a senior official familiar with the plans,” Bloomberg reported. “Authorities are also pondering a capital threshold for exchanges and education requirements for executives at such firms.”

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