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Turkey banned payments via cryptocurrencies, and their price fell as a result

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| picture: Deposit

It is believed that their use in payments may cause irreversible losses to the parties to the transactions due to the aforementioned factors. It also includes elements that could disrupt court methods and highlight the tools currently used for payments. The bank also indicated that these assets, in addition to other security risks, are not subject to the daily regulatory and monitoring mechanisms or to the central regulatory authority.

Bitcoin is once again at the top, price rising above $ 62,000 for the first time

In the new regulations, which went into effect on April 30, the central bank banned the use of cryptocurrencies and the granting of crypto assets to purchase goods and services. Reuters reported that last week, Turkish councils provided trading platforms to provide information about users.

The volume of trade in cryptocurrencies in Turkey in the period from the arrest of Norway until March 24 increased to 218 billion Turkish liras, or about 584 billion kroner, while in the same period last year it reached about seven billion liras. It rose sharply a few days after the current dismissal of Turkey’s central bank, weakening the Turkish lira by 15 percent.

Cryptocurrencies are often used as an investment asset, but they have not yet been used to purchase goods and services. This week, Royal Motor became the first company in Turkey to accept payments of cryptocurrency. The company sells luxury Rolls-Royce and Lotus cars in Turkey.

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I eat bitcoin soaring. Beware fraudulent dealers when buying

Bitcoin hit a record high this week, approaching $ 65,000. The sack of birds has dropped to less than $ 61,000.

Cryptocurrencies face monetary and regulatory controls around the world. Often times, it is said that governments can take action against their actions. A number of prominent figures, including US Treasury Secretary Janet Yellenoff and European Central Bank Christine Lagarde, have raised concerns about the use of cryptocurrencies for money laundering, terrorist financing and other illegal activities.