USAon the side BinanceAs the crisis continues, these processes What could be the reflection of Türkiye?
Cointelegraph Türkiyefrom Hazal OrtaIn a report by , the pressures created by US regulators on Binance and the Turkish side of these pressures were mentioned.
One of the current issues in the USA, which puts the crypto industry under pressure, is Binance became . In late March, the US Commodity Futures and Trading Commission (CFTC) filed a lawsuit, stating that Binance had violated the law. What about Binance? What could happen on the Turkish side?
US and Binance Issues
from the USAregulators, Binance’swith US foot Binance has US in its grip . Chairman of the CFTC Rostin Behnam claimed that Binance has been involved in fraud events for the last 4 years. Proceeding on these claims Behnam, to Binance He wants to make the accusations even more somber.
SECin competition with of the CFTC It is known that he wants to establish more dominance in the crypto industry. As a result of this situation, a fierce competition started between the two regulators. Binance processes, a product of this competition, have made crypto investors curious. especially Binance’sprocesses in the USA, Its reflections on the Turkish side began to be discussed.
Cointelegraph Türkiyefrom Hazal OrtaIn the news penned by CFTC, Binance In the light of the moves made to the US leg, attention was drawn to the Turkish side of the stock market.
The CFTC’s Binance US claims include topics such as tax evasion, money laundering and various derivative transactions. The moves of the CFTC, especially in derivatives, margin and leveraged transactions, brought to mind the Turkish side. Because Binance has removed it on the Turkish side. It had brought back margin language support.
Binance and Margin Transactions
Cointelegraph Türkiye , compiled the reflections of the US pressure on Binance to the Turkish side. Binance Turkey Mentioning that he does not have margin and leveraged transactions, Cointelegraph Türkiye stated that these transactions can be made on the global side of Binance. However, for a while, Binance removed Turkish language support from margin transactions on its global platform. Coming back after a long time Turkish language support aroused curiosity.
Margin and other derivative transactions that are not yet legal in Turkey, Cointelegraph Türkiyefor, new York And Istanbul Bar Associationslawyer Vetch Unsalreplied. UnsalHe stated that there is no regulation regarding virtual currencies in Turkey and that virtual currencies are not among the elements that will be used as a basis for derivative instruments. Ünsal pointed out that it was announced that derivative transactions based on virtual currencies should not be made.
Capital Markets Boardabout this subject, which has been made publicly no decision or opinion.
Capital Market Lawnoting the Unsal pointed out that derivative instruments and leveraged instruments are capital market instruments. Upon this Unsalemphasized that cryptocurrencies will not fall into this category.
In addition, Ünsal conveyed the following to Cointelegraph Turkey on the subject;
“In the event that information is obtained that money is collected from the public through crowdfunding platforms without the permission of the Board, or that derivatives transactions that are determined to be subject to the same provisions as leveraged transactions abroad, via the Internet, are made for people residing in Turkey, pursuant to Article 99 of the Capital Markets Law. Upon its application, the Information Technologies and Communications Authority blocks access to the relevant website.
If Binance got the necessary permission on such an issue, this would be known to the public. However, Binance’s questioning on these issues in the USA, Their situation on the Turkish side has also made it a matter of curiosity.
