Brief Look at Koinim
Koinim, a cryptocurrency exchange, has announced it will cease operations due to changes in Turkish legislation. The company’s official statement statement cites Law No. 7518 'On Amendments to the Capital Markets Law,' which took effect on July 2, 2024, and an August 2024 bulletin from the Turkish regulator SPK (Sermaye Piyasası Kurulu) as the reasons for the decision.
As part of this decision, Koinim has stopped registering new users and has also halted cryptocurrency buying and selling operations. Furthermore, all deposit operations, both in cryptocurrencies and Turkish lira, have been suspended. However, users can still withdraw funds from the platform. The company strongly advises clients to initiate the withdrawal process as soon as possible if they have balances in their accounts.
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