Bitcoin (BTC USD) Cryptocurrency Price News: Turkey Bust Prompts Regulation Call

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Turkey is planning to regulate its cryptocurrency market after two local exchanges crumbled within days.

The government is planning to establish a central custodian bank to eliminate counterparty risk following the collapse of the Thodex and Vebitcoin exchanges last week, according to a senior official familiar with the plans. Authorities are also pondering a capital threshold for exchanges and education requirements for executives at such firms, the official told Bloomberg on Monday, speaking on condition of anonymity as the plans haven’t been finalized yet.