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Crypto exchange Coinbase is dropping out of Turkey’s crypto market and liquidating its Turkish operation after withdrawing its application with the country’s financial regulator.   Türkiye Today reported that the country’s Capital Markets Board updated its company liquidation list last week. It noted that Coinbase had withdrawn its three-month-old pre-application and filed for liquidation.  When asked to comment on the withdrawal, Coinbase told Protos it, “Continually assesses potential markets for expansion,” and that it “remains adaptive to evolving market conditions, regulatory landscapes, and our internal priorities.” CHART: How bitcoin and crypto are taxed across the G7 Read more: Coinbase to delist WBTC months after Justin Sun controversy A total of 14 companies have reportedly filed for liquidation and 77 firms are going through the application process . Some crypto companies that have applied include Binance, Kucoi, and OKX. Oddly enou...

At the Plan B Forum in Switzerland, Rikki and David from the Bitcoin Explorers Project shared their observations on cryptocurrency adoption in Turkey and Lebanon, countries currently grappling with severe inflation . Crypto in Turkey Rikki described the rampant inflation plaguing Turkey, with prices rising 60% annually, according to official statistics, and possibly more unofficially. He recounted seeing locals lining up to exchange Turkish lira for US dollars and gold to preserve their purchasing power. You might also like: Turkey sees rise in adult crypto investors, report reveals Rikki also showed images of Bitcoin ATMs and shops accepting cryptocurrency in Istanbul, evidence of growing Bitcoin (BTC) adoption. However, he noted usage may still be limited, as the Turkish government banned cryptocurrencies for payments in April 2021. Crypto in Lebanon The explorers then turned to Lebanon, where inflation has skyrocketed to over 250% amid a major economic crisis. Rikki...