• Changpeng Zhao praised Turkey’s role in blockchain development during an address at the Turkish Capital Markets Summit
  • The open-minded approach of Turkey to innovation will drive crypto adoption

Binance CEO Changpeng Zhao has lauded the role of the Turkish public and government in the development of the blockchain sector and has said that Turkey has one of the fastest crypto usage growth in the world. He made these remarks on the outlook of the industry in the country after the Turkish Capital Markets Summit held in Istanbul during an interview with Cointelegraph.

During the course of the interview, CZ touched on a variety of topics including the popularity of cryptocurrencies in the country and the recent increase in interest due to the inflation figures. He noted that Turkey Localbitcoins.com experienced record level trading in 2018 when the US placed sanctions on the country due to an ongoing diplomatic row.

CZ praised the general awareness and understanding of the industry in the Turkish populace as well as their openness to new ideas and innovations within the new industry itself. The move is expected to garner further interest in cryptocurrencies in the country which is the only country in the Middle East that has progressively allowed cryptocurrency trading and ownership along with the United Arab Emirates.

 

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