Authorities in Turkey have blocked a group of almost 60 different companies operating across the prop trading and cryptocurrency sectors. The number of firms on the list exceeds 100 when including other unlicensed CFD brokers.
The ban seems to stem from the fact Turkey introduced regulations to govern the crypto industry in July.
According to a source familiar with the matter, the Turkish regulator asked firms to remove Turkish language support from their websites or face the ban. This is something Binance announced it would be doing at the end of September.
The large majority of firms on the list are crypto trading brands. Most of these are smaller firms but there are also a few bigger names, including StormGain and HTX, on the list as well.
Interestingly the regulator has also added a few props that have been targeting Turkish clients to the list.
That includes BrightFunded, BEM Funding, and Lion Funded.
It’s plausible the regulator does not actually know what the companies do and has simply added them to the list because they use crypto in their promotional materials.
