Preparation Has Begun: Cryptocurrency Move from Turkish Banks!

Demand for talent in the cryptocurrency and blockchain space continues to grow. While the legal work on cryptocurrencies continues in Turkey, Turkish banks are also taking action in this regard. Here are the details…

Cryptocurrency announcement from two Turkish banks As we have also reported, the regulatory process for cryptocurrencies continues in our country. This situation also affected classical financial institutions such as banks. The latest reports indicate that Garanti Bank and Yapı Kredi Bank have posted jobs in the cryptocurrency space. This may indicate that the classic big banks will be offering cryptocurrencies. In fact, the possibility of banks to mediate crypto trade processes is mentioned in the event that regulations for cryptocurrencies become operational.

As it is known, Nureddin Nebati, the Minister of Treasury and Finance, stated that the last point has been reached regarding the regulations regarding cryptocurrencies. He stated that the group headed by Vice President Fuat Oktay has made the final compilations on crypto matter. Minister Nebati stated that the draft cryptocurrency will now be submitted to the Parliament. What happens next will be determined by the approval process in the Grand National Assembly of Turkey.

Banks focus on cryptocurrencies

Meanwhile, LinkedIn information from last year also indicated an increase in job postings for cryptocurrencies. According to LinkedIn information, the number of crypto positions hired by major financial services firms increased by 40% in 2021 compared to the previous year. JPMorgan Chase, BNY Mellon, Deutsche Bank, Wells Fargo, Citigroup, Goldman Sachs, Morgan Stanley, Capital One, UBS, Bank of America, Credit Suisse, and Barclays are the main financial institutions that recruit the most crypto professionals for various roles. Amidst these locations are sales professionals, to staff who design crypto offerings for consumers, to engineers who build Blockchain platforms for banks.

There is a slight decline in the markets

Meanwhile, there is a slight loss of momentum in the cryptocurrency market. Bitcoin price fell sharply and slumped below a major $21,000 reinforcement level. In similar form, Ethereum also dropped over 2% to $1,566. Major cryptocurrencies were trading in a mixed session. Earlier on November 7, the global crypto market price dropped over 1% the previous day. It fell to $1.04 trillion. In the past 24 hours, the overall crypto market volume has dropped less than 0.50% to $69.99 billion.

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