Turkey Bans Crypto Payments

Turkey Bans Crypto Payments 101Source: iStock/undefined undefined

Turkey’s central bank banned the use of cryptoassets in payments as they entailed significant risks due to volatile market values, irrevocable transactions and are used in illegal actions, Reuters reported.

Also, the bank said that these assets were “neither subject to any regulation and supervision mechanisms nor a central regulatory authority,” the report said.

(To be updated)
____
Learn more:
– The Case Of a Plunging Fiat Currency: Turkey’s Struggling Lira
– Turks Turn to Exploring Bitcoin, Ethereum, And Tether as Lira Plummets
– Venezuela Paying Iranian, Turkish Companies in Bitcoin – Report
– Thai Central Bank Sets A Precedent By Banning Baht-pegged Stablecoin
– Latest Episode of India’s Crypto Ban Soap Draws Decidedly Mixed Reviews
– Here Are the Ways Governments Could Attack Bitcoin – and None of them Sound Hot
– Nigerian Senators Blast Central Bank For Its Crypto Ban

Source

Updated: 16.04.2021 — 03:00