RATE Group | Why Turkey is Gaining Speed as Crypto’s Newest Industry Hub
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Why Turkey is Gaining Speed as Crypto’s Newest Industry Hub

Why Turkey is Gaining Speed as Crypto’s Newest Industry Hub

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Since the crypto boom in 2017, the destinations that have been named as global blockchain and cryptocurrency industry hubs have remained fairly static. Switzerland, Malta, and Gibraltar have earned reputations as some of the most crypto-friendly countries in terms of regulation; the UK and various parts of the United States have become known as the centers of building institutional infrastructure for blockchain. The APAC region has largely been identified as crypto’s innovation capital.

However, it seems that a new global industry hub is forming in a new region of the world.

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Indeed, Turkey–situated between Greece, Syria, and Iraq, and with a population of roughly 80.8 million–seems to be crypto’s new hotspot.

In a recent interview with Turkish news source Anadolu Agency, Binance CEO Changpeng Zhao said that “Turkey plays a leading role in this field, giving it the chance to lead financial technology…

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