Reason for this visit

Turkey has been in economic turmoil for the past few months. Lira, the fiat currency of Turkey, has depreciated sharply, which prompts the locals to swap the lira for bitcoin, foreign currencies, and gold. Also, Turkey's central bank had banned cryptocurrency payments in mid-April, meaning local companies are not allowed to make transactions involving crypto assets. Regulatory uncertainty, extremely high volatility and crime were cited as key reasons behind the decision. To help investors know more about the local exchanges, the survey team will go to Turkey for on-site visits.

On-site visit

This time the survey team visited the cryptocurrency exchange BTC TURK in Istanbul, Turkey, with specific address at Akmerkez Shopping MALL Block E.

According to the above address, the survey team came to the destination of this survey. The office of the cryptocurrency exchange BTC TURK was located in Istanbul, the financial center of Turkey. In details, it was in the Akmerkaz building, which was a complex building with various department stores on the ground floor and office areas on the upper floor.

The surveyors found the front desk of the crypto exchange in the Block E, which decorated like a forest with a distinctive look. Also, there was the logo of BTC TURK here. To the right of the front desk was their office, but there was no reception at that time, so the surveyors did not enter the office to visit.

Conclusion

The survey team went to Istanbul, Turkey to visit the cryptocurrency exchange BTC TURK, and found the exchange’s physical business premise at the public business address. However, the survey team failed to enter the office for a visit, so the exact business scale and operation status of the exchange remained unknown. Please be prudent when trading with this exchange. 

Disclaimer

The content is for informational purpose only, and shall not be taken as final order for making choice.