War VS. Cryptocurrencies

Turkish President declares war on cryptocurrencies

Cryptocurrencies in Turkey

Cryptocurrencies in Turkey

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Gaza post

 

During a conference with students from 81 regions in Mersin on Sept. 18, President Recep Tayyip Erdogan declared that Turkey was at war with cryptocurrencies.


According to U.S. news reports In mid-April, the Turkish central bank put a ban on cryptocurrencs payments, effectively prohibiting local businesses from doing transactions involving the new commodity.


The main reasons for the decision were regulatory uncertainty, extremely high volatility, and crime.

 

Erdogan stated that the spread of digital assets is "certainly" not a concern in his country.

 

Turkey will continue to use its own currency, which the president believes is an important component of the country's identity.

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