Algorithmic Ratings & Investment Analysis
©ARIA 2025
by aria-ratings.com
June 17, 2025 at 11:11
Turkey's Crypto Market Faces Setback as Bitfinex Withdraws Operations
In a significant turn of events, the giant cryptocurrency exchange Bitfinex has announced its withdrawal from the Turkish market.
This decision comes amid stringent regulatory requirements imposed by the Capital Markets Board (CMB) of Turkey.
With only weeks left to comply with the CMB's secondary regulations, Bitfinex opted to cease operations rather than navigate the complex legal landscape.
As per their official statement, the Bitfinex Türkiye Crypto Asset Trading Platform will terminate its activities effective June 16, 2025.
The exchange has urged its customers to withdraw their funds by July 16, 2025, to ensure a smooth exit from the Turkish market.
New user registrations will be halted immediately, and existing customers will have the opportunity to convert their crypto assets into cash during the transition.
Bitfinex explained that the decision was made in adherence to Capital Markets Law No. 6362, with the intent to protect user rights.
After the deadline, any unwithdrawn crypto balances will be converted to Turkish Lira at the market value.
This move raises concerns in the Turkish crypto community, which may face additional challenges with the evolving regulatory landscape.
Investors should stay informed and act quickly to adapt to these developments as the Turkish crypto ecosystem continues to evolve.
At the recent DigiAssets 2025 conference, a JP Morgan executive expressed caution regarding the potentially overcrowded stablecoin market. Emma Lovett, the firm's executive director, highlighted the need for t...
Canada has officially approved its first spot XRP exchange-traded fund (ETF), marking a significant advancement in the nation’s cryptocurrency investment framework. Launched by Purpose Investments, the ETF will...
an hour ago
Institutional investors in the UK are rapidly preparing to invest in crypto exchange-traded products (ETPs) as the Financial Conduct Authority (FCA) moves closer to approving retail access. Dovile Silenskyte f...
3 hours ago
In a significant move towards regulating the cryptocurrency landscape, Russia has recently shut down a massive crypto mining farm. This decision comes amidst ongoing efforts by the government to crack down on ...
As cryptocurrency usage soars, Argentina has seen over 1.3 million individuals embracing digital assets, representing approximately 2.94% of the population. Despite the increasing interest, cryptocurrencies ar...
OKX has officially launched its regulated cryptocurrency exchanges in Germany and Poland, marking a key expansion into European markets. This launch allows users to trade over 270 cryptocurrencies, featuring m...
In a significant ruling, a South Korean court has found the CEO of Haru Invest not guilty of a massive $650 million cryptocurrency fraud. This verdict comes as a relief to many investors who were caught up in ...
The European Union (EU) is increasingly viewed as lagging behind the United States and Asia in the realm of cryptocurrency regulation. Experts warn that the EU risks becoming a “crypto flyover zone,” with legi...
The ongoing legal dispute between Ripple Labs and the U.S. Securities and Exchange Commission (SEC) has hit another snag as both parties request to delay the appellate proceedings. On June 16, they filed a mot...
8 hours ago
TRON, founded by crypto entrepreneur Justin Sun, is set to make its debut on Nasdaq through a reverse merger with SRM Entertainment. This strategic move has already resulted in a remarkable 533% spike in SRM’s...
8 hours ago
Stay informed and up-to-date on the market's latest news with ARIA's Institutional Terminal's News Aggregator.
Find your curated news articles and analysis from over 50 sources, including the crypto's biggest publications.
Get Institutional Access