Turkey May Create Central Custodian Bank Following Suspected Fraud In Two Major Stock Exchanges By Cointelegraph

Turkey may establish central depository bank following suspected fraud in two major stock exchanges

Following the arrest of several employees at Turkey-based crypto exchanges Thodex and Vebitcoin last week, government officials are reportedly planning to create a central bank authority that could keep digital assets.

According to a Bloomberg report, an anonymous senior Turkish government official mentionned Local authorities can create a central custodian bank aimed at eliminating counterparty risk for cryptocurrency transactions. The same source claimed that the government is also considering instituting a capital threshold for exchanges and requiring executives of crypto companies to have some basic knowledge of digital currencies.