Large Turkish crypto exchange Coinzo is closed-Exchanges
Large Turkish crypto exchange Coinzo is closed-Exchanges
Coinzo, one of the largest cryptocurrency exchanges in Türkiye, ends its digital asset trade services. The platform said that your website will remain online in the next six months so that users can withdraw their stocks of cryptocurrency and Turkish Fiat money.
Another Turkish crypto exchange closes in the middle of Ankara's "war" against cryptocurrency
Leading Turkish crypto tours Coinzo Commerced on Monday. The platform asked customers to set their assets in Turkish lira and cryptocurrency without a special reason for their decision to leave the market. In a message published on its website, the company explained:
We decided to set our service provider for digital assets (cryptocurrency platform).
The stock exchange emphasized that your website Coinzo.com will be accessible for another six months, in which retailers can log in to their accounts and withdraw Turkish lira and cryptocurrencies. All functions with the exception of the purchase and sales options will be available.
"Our support team will continue to offer solutions for our users' problems during this process," added Cozo. It also assured that "all Turkish lira and crypto money systems are safe from our users". Cryptocurrency stocks that are below the minimum payment limit are credited to the user accounts within a week after the announcement in Turkish lira.
The stock exchange announced that she had already suspended the Turkish Lira trading couple with her own Cozo-token (CNZ) so that its owners are not affected by price changes after the announcement of the closure. CNZ credit becomes the last transaction course of 1.516 Lira Pro. Converted coin and amounts within seven working days.
Payouts in Turkish Lira can be carried out on a bank account that corresponds to the first and last name in a verified coin account. The platform will not calculate the usual Fiat payment fee and the minimum payment limit was set to 0.1 Lira. It also has detailed Instructions About how to lift crypto-assets on another wallet.
Coinzo, operated by a company based in the city of Izmir, is one of the five largest stock exchanges in Turkey, according to a report by the Turkish news portal. The publication claims that the crypto platform has registered a daily trading volume of almost 500 million lira (over $ 55 million).
The collapse of Coinzo follows that of other Turkish cryptocurrency exchanges such as Thodeex and vebitcoin . The two stopped at the beginning of the year after tcmb , the central bank of Türkiye, banned the use of cryptocurrencies for payments. According to the ban, the Turkish authorities updated Krypto regulations in May Introduce requirements for local crypto trading service providers.
The message from Coinzo's decision on the closure comes according to President Recep Tayyip Erdoğan in September Cryptocurrency "in the war" is, despite the previous reports that the Turkish government had prepared draft law to regulate the country's crypto space, which is expected to move into parliament in October this year. In July the deputy finance and finance minister Şakir Ercan Gül was cited with the words: [Cryptocurrencies] are generally countries with democracy problems. " His comments indicated that Turkey will enter the footsteps of the West in terms of its regulatory approach for industry.
Do you think that other Turkish crypto exchanges will hire their business in the near future? Share your expectations in the comment area below.
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