BTCTurk terminates operations in Turkey

BTCTurk has been forced to shut down their operations in Turkey after failing to find support from local banks.

In an announcement on its blog, BTCTürk revealed “problematic” relationships with most banks since its early days, despite the exchange’s track record on legal compliance. The exchange also stated that it adhered to “numerous” law enforcement investigations.

BTCTürk further insisted that its website will remain open despite the uncertain times it currently faces. Furthermore, it hopes to re-enable its operations in the future, although underlining that it had no estimate on when that would happen. Additionally, the exchange made it clear that it was under no investigation nor legal action from authorities or regulators alike.

BTCTurk is a Turkish Bitcoin exchange which launched in July 2013.