The revamp, which would alter the way transactions are processed, is anticipated to go live on Thursday.
The move by Italy’s market watchdog is the latest in a string of regulatory actions taken by governments against the world’s largest crypto exchange.
Rumours have been doing the rounds for days that Paraguay will follow suit after El Salvador became the first country to use cryptocurrency.
Bitcoin sells for around $28,890, a level last seen at the beginning of the year, with analysts citing Chinese efforts to curb trading and mining operations.
For Turkey’s nascent blockchain ecosystem to thrive, it will need regulations that do not stifle innovation alongside public-private sector cooperation to secure the country’s digital future.
The law would create mechanisms to help Salvadorans, especially small businesses, quickly convert payments they receive in bitcoins into dollars.
El Salvador's President Nayib Bukele said that he will send a bill to Congress next week to make bitcoin legal tender in the Central American nation, touting its potential to help Salvadorans living abroad send remittances home.
"Quantum" by Kevin McCoy, a simple geometric animation, is the first known non-fungible token, according to auction house Sotheby's.
Whatever his intention, Elon Musk has put Dogecoin investors in a vulnerable position. Should Bitcoin holders be worried too?
Ether, the second-biggest cryptocurrency by market capitalisation after bitcoin, climbed to $4,372.35, eclipsing its previous record hit on Monday, and was last up 2%.
Dogecoin was quoted as low as $0.416 on crypto exchange Binance, down 36 percent from levels around $0.65 before Elon Musk called it a 'hustle' during his guest-host spot on the "Saturday Night Live."
Turkey’s unregulated crypto market has come under closer scrutiny by the government, as it begins to tighten restrictions and float a tax regime.
Subscribe to our Youtube channel for all latest in-depth, on the ground reporting from around the world.
Copyright © 2021 TRT World.