Blockchain
Binance Adjusts Services in Turkey Following New Crypto Regulations
Binance, a leading cryptocurrency exchange, has announced a series of adjustments to its services in Turkey in response to new regulatory requirements. The company emphasized its commitment to transparency and regulatory compliance.
Changes to Services
The new regulations will lead to several significant changes for Binance users in Turkey. Firstly, the Turkish language selection for Binance.com services will be gradually turned off over the next three months. Additionally, all direct marketing activities targeting Turkish users will be completely halted. Despite these changes, Binance assured its users that the platform will remain accessible from Turkey, and all user funds are safe. Deposit and withdrawal functions will continue to be available.
Commitment to Compliance
Binance has been closely monitoring regulatory developments in Turkey and expressed its support for the creation of a regulatory framework to safeguard the cryptocurrency ecosystem. The company stated its dedication to collaborating with regulators to ensure a compliant environment for all users.
“We are aware that these changes will affect some of our users, but as always, the safety and experience of all our users will remain our priority,” said Binance.
Industry Impact
The adjustments in Binance’s services come at a time when Turkey is ramping up its regulatory oversight of the cryptocurrency sector. This move is part of a broader trend of countries seeking to establish clearer regulatory guidelines for digital assets to protect investors and ensure market stability. Binance’s proactive approach to complying with local regulations could serve as a model for other exchanges operating in jurisdictions with evolving crypto laws. By taking these steps, Binance aims to maintain its operations in Turkey while aligning with the new regulatory landscape.
Source: blockchain.news
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DLA Piper’s crypto tokenization engine TOKO relaunches as Scintilla
Following a management buy-out by the management team at TOKO FZE, the business has been rebranded as Scintilla, the revolutionary platform providing on-chain solutions and services to make investments more inclusive, accessible, and efficient. Having been developed within DLA Piper’s Law& innovation portfolio, TOKO – now Scintilla has a fresh brand identity, new leadership, and innovative product offerings. Scintilla is set to reshape the future of finance by enabling businesses to unlock the power of blockchain technology across various asset classes, with DLA Piper remaining as a minority shareholder.
Regulated by Dubai’s Virtual Assets Regulatory Authority (VARA), Scintilla is one of the first digital asset companies to gain full market licenses, marking a significant milestone in the sector’s landscape. Being a regulated entity underscores Scintilla’s commitment to the highest standards of compliance and security while pioneering new solutions for tokenization in the global market.
Innovating Finance Through Tokenization
Scintilla offers a comprehensive suite of tokenization services designed to bring liquidity, transparency, and efficiency to traditional finance sectors. From tokenized financial products, and real estate all the way to new legal funding products, Scintilla’s digital asset solutions enable clients to tokenize assets that were previously inaccessible to investors or illiquid.
Scintilla’s services include:
Advisory Services: The gateway to successful market entry. From initial opportunity assessment to strategic development of game-changing tokenization-based solutions.
Use Case Development: Bringing products to life. From initial POC development and iteration towards MVP all the way through to the full market launch.
Broker/Dealer Services: Creating new markets. Regulated primary market trading, ensuring the highest levels of trust and security within the tokenization space.
Exchange Services: Universal participation. Seamless, secure secondary trading of tokenized assets, with industry-leading technology and compliance standards.
Scintilla is uniquely positioned to capitalize on the confluence of Dubai’s world-leading regulatory environment, cutting-edge technology, and the burgeoning RWA market.
A New Era for Scintilla
The relaunch of Scintilla represents more than just a rebranding—it signifies the company’s growing ambition to lead in the digital asset space. With an expanded team of industry experts, including continuing Board representation from DLA Piper, and a clear strategic vision, Scintilla is set to drive the adoption of tokenization in traditional financial markets.
“Our relaunch marks the beginning of an exciting new chapter for Scintilla and the wider industry. We are committed to pushing the boundaries of what is possible in digital finance while ensuring our solutions are underpinned by strong regulatory compliance,” said Tim Popplewell, CEO of Scintilla. “With our new suite of products and services, we are empowering investors to transform the way they manage and access value.”
Jean-Pierre Douglas-Henry, Managing Director, Sustainability and Resilience, DLA Piper added: “Innovation is a key strand in our business strategy. As our business focuses on developing and nurturing innovations that add significant value to our clients through our Law& innovation program, it is fantastic to see this solution spun out into the thriving digital asset space for the next stage of its growth and development.”
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