“Crypto and blockchain are not separate from each other”

SAFAKNA TURKEY – According to the news in Hürriyet newspaper; Kostarev came to Turkey as a speaker for the Istanbul Blockchain Week and answered questions from reporters along with Binance Turkey General Manager Mujahit Donmez at a press conference. Explaining the Binance CZ CEO’s meeting with Minister Nebati in July last year, “it was within the official framework,” Kostarev said of the Turkish market, “Adequate regulation will help this business grow. Taxation is very important from a regulatory point of view. In Indonesia and India, taxation is charged per transaction. All in all, this is not a positive step. If such regulation is introduced in Turkey, it will affect everyone, regardless of whether it is a domestic company or a foreign one.” When we recalled President Erdogan’s advice, especially to young people, to take part in research related to blockchain technology and not cryptocurrencies, Kostarev replied: “I don’t think that cryptocurrency and blockchain will be separated from each other.” “We cannot say that blockchain is still fully understood in many parts of the world,” Kostarev said.


Turkey’s CEO Mükahit Donmez also said: “There is no ideal country yet in terms of regulation. Binance wants regulation. However, this should not be a prohibitive norm. Our meeting with Minister Nabati was very positive. In the message given to us, “this is a new technology and it is important; We want to be followed as a country,” he said. During President Erdogan’s statement, we were also on the record that day. Binance is not only involved in the stock market, in this sense, we do not take much of their rhetoric. We are the market leader in this sector with 40 percent. The current size of SAFU, the Safe Asset Fund for Users, which can be considered as a kind of insurance in 2019 and has been in operation for 3 years, has reached $1 billion.”

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