Coinbase has decided to withdraw its previous application to enter the Turkish crypto market, according to Turkish regulatory documents.
This has come after more than 90 companies applied to enter the market last year.
The CMB documents, shared via local media and social networks, stated Coinbase has officially withdrawn its previous application to operate in Turkey.
There is no clear reason for this decision, as Coinbase has not publicly addressed the matter.
In August, Coinbase filed an application to enter the Turkish market, joining a number of other major companies in the crypto and blockchain sectors.
However, by the end of November, 14 of the companies that had submitted applications, withdrew their applications.