Turkey’s Role in Blockchain Advancement Applauded by Binance CEO

Posted on Dec 3, 2019

After attending the Turkish Capital Markets Summit in Istanbul, Changpeng Zhao has praised the Turkish government and the public for their role in advancing the blockchain sector. The CEO of Finance went on to state that the rate of growth for crypto use within Turkey was one of the highest globally, and that trading service LocalBitcoins witnessed new records of trading levels in Turkey last year. During this time, sanctions had been placed on the country by the U.S. as a result of diplomatic tensions. Zhao also remarked that inflation has caused a sudden rise in interest in cryptocurrencies, and that popularity of digital assets is spreading. He went on to commend the Turkish community for their knowledge and consciousness towards the industry, and most importantly their receptiveness to emerging concepts. This positivity will no doubt encourage further adoption of digital assets as Turkey remains the only Middle Eastern country, alongside the UAE, to permit citizens to trade and own cryptocurrency.