Binance CEO Changpeng Zhao And Turkish Finance Minister Meet To Discuss Blockchain Technology and Cryptocurrencies

CEO of Binance Changpeng Zhao on Wednesday virtually met with Turkish Finance Minister Dr. Nureddin Nebati to discuss cryptocurrencies and the blockchain ecosystem. The meeting comes amid reports that the country could soon regulate its cryptocurrency market with dedicated laws and policies. Turkey also hosts a significant part of Binance’s user base.

According to a post from the Twitter account of the Turkish Finance Minister Dr. Nureddin Nebati, the pair met on July 27 to discuss “crypto assets” and the “blockchain ecosystem,” as Turkey readies itself for crypto regulation to drive innovation within its jurisdiction.  

We had a virtual meeting with Mr. Changpeng Zhao, the founder of Binance. Mr. @cz_binance and I had discussions on the blockchain ecosystem and crypto assets.

Turkey Is Key to Binance’s Success

Binance recently opened a dedicated customer service center in Turkey aiming to provide 24/7 support to customers in the country, as data from Similarweb indicates that Turkey is the number one traffic source for Binance. Zhao’s exchange has gained a growing presence in Europe and the Middle East but has not always had an easy time in Turkey. In December 2021, authorities fined Binance $750,000 over failure to comply with several clauses within the country’s Law on Prevention of Laundering Proceeds of Crime. According to regulations, Binance failed to identify and verify the personal information of its customers. In the same week, the regulatory action was leveled against Binance, Turkish President Recep Tayyip Erdogan announced a new draft of the country’s cryptocurrency law amid the woes of the country’s fiat currency running record lows.

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