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- The wording
- BBC World News
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Reverse cryptocurrencies from Turkey.
The country’s central bank has banned direct and indirect payments in cryptocurrencies and crypto assets, in an unusual position in the virtual currency market.
In an advertisement published in the State’s Official Gazette, the authority justifies its decision In transaction risk.
“Payment service providers will not be able to carry out their transactions in a way that uses crypto assets directly or indirectly in providing payment services and issuing electronic money,” the statement said.
The central bank added that digital assets “are not subject to any regulation or oversight mechanisms by any central regulatory authority,” among the other mentioned risks.
The decision, which has been criticized by the opposition, will go into effect on April 30th.
On Friday, Bitcoin sank to 4.5%, right after the veto was known.
However, the coin features a Volatility He returned shortly thereafter.
The decision could pause the cryptocurrency market in Turkey, which has gained momentum in recent months as investors joined the global rally of bitcoin to hedge against the Turkish lira’s devaluation and inflation that reached 16% in March.
In fact, the Turkish Central Bank announced at the end of 2020 the future creation of a national cryptocurrency, which was included in the government’s economic roadmap 2019-2023.
And this week, it became Royal Motors, which distributes Rolls-Royce and Lotus cars in Turkey In the first country to accept payments In cryptocurrencies.
The volume of cryptocurrency trading in Turkey reached 218 billion liras (27 billion US dollars) from the beginning of February to 24 March, compared to just over 7 billion liras in the same period in 2020, according to data from the American company. Reuters.
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