Unexpected withdrawal decision in the Turkish crypto market: Financial giant has terminated its operations.

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QNB, one of Turkey's financial sector giants, unexpectedly halted its activities in the cryptocurrency field after starting crypto services. With an official statement made to the Capital Markets Board, the company announced that it has ceased accepting new customers. Although the company has not made a clear statement regarding its withdrawal decision, it is believed that this sudden decision may be related to new cryptocurrency regulations in Turkey.

Strict Cryptocurrency Regulations in Turkey Negatively Affect the Cryptocurrency Sector

QNB's digital asset platform, one of Turkey's leading financial institutions, announced that it has ended its short-lived presence in the cryptocurrency market. The decision of QNB Digital Assets Inc. to cease operations as of November 7, 2024, was met with surprise in the sector.

In its official notification to the CMB, the company announced that cryptocurrency transactions would be terminated and that new customer acceptance would not be allowed. QNB Digital Assets informed existing customers that questions would be answered via the email address support@qnbdijitalvarliklar.com. Market observers assess that the recently enacted cryptocurrency regulations in Turkey have influenced this unexpected decision.

During its operational period, the platform had come to the forefront with its "waiting list" application. Due to limited customer capacity, the company placed many applicants on a waiting list, experiencing a period where this situation negatively affected customer satisfaction.

While no explanation has been provided regarding the rationale for the closure decision, industry experts have warned users against potential fraud attempts. Experts emphasize the importance of cryptocurrency holders conducting their transactions through reliable and legal platforms.