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  4. President of Turkey declares war against cryptocurrency
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President of Turkey declares war against cryptocurrency

In a Sept 18 meeting that took place in the city of Mersin with students from 81 provinces, Turkey’s President Recep Tayyip Erdogan said that the country was at war with...
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President of Turkey declares war against cryptocurrency President of Turkey declares war against cryptocurrency

In a Sept 18 meeting that took place in the city of Mersin with students from 81 provinces, Turkey’s President Recep Tayyip Erdogan said that the country was at war with cryptocurrencies.

President Erdogan asserted that the country has no problem with the spread of digital assets but that it would carry on with its own money, which he believes is part of the national identity.

Erdogan’s comments come at the heels of the creation of a new platform to research and test a digitalized version of the Turkish lira earlier this month. The first stage will see the project undergo limited tests that are meant to determine its viability, and the results of the pilot phase will be announced next year.

Exploring the issuance of a CBDC was included in Erdogan’s Annual Presidential Program back in 2019.

Turkey’s economy has been plagued by out-of-control inflation and currency depreciation, yet it ranks as one of the top countries by cryptocurrency adoption.

In late March, Google (NASDAQ:GOOGL) searches for the term “Bitcoin” soared by more than 500 percent after Erdogan sacked the central bank head, and the value of the lira collapsed by a whopping 17 percent within one day.

The President is arguably looking to dissuade Turks from putting their savings into the speculative asset since decentralized cryptocurrencies are out of his reach.

As reported by BTC PEERS, Turkey’s Central Bank imposed a ban on cryptocurrency payments in mid-April, restricting local companies from conducting transactions that involve digital assets. Regulatory uncertainty, extremely high volatility, and crime were cited as the major reasons behind the decision.

Continue reading on BTC Peers

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01-05-2024 10:45:17 (UTC+7)

EUR/USD

1.0658

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 EUR/USD1.0658↑ Sell
 GBP/USD1.2475↑ Sell
 USD/JPY157.91↑ Buy
 AUD/USD0.6469Neutral
 USD/CAD1.3780↑ Buy
 EUR/JPY168.32↑ Buy
 EUR/CHF0.9808Neutral
 Gold2,295.80↑ Sell
 Silver26.677↑ Sell
 Copper4.5305↑ Buy
 Crude Oil WTI81.14↑ Sell
 Brent Oil85.62↑ Sell
 Natural Gas1.946↑ Sell
 US Coffee C213.73↑ Sell
 Euro Stoxx 504,920.55↑ Sell
 S&P 5005,035.69↑ Sell
 DAX17,921.95↑ Sell
 FTSE 1008,144.13Sell
 Hang Seng17,763.03↑ Sell
 Small Cap 20001,973.05↑ Sell
 IBEX 3510,854.40Neutral
 BASF49.155↑ Sell
 Bayer27.35↑ Sell
 Allianz266.60↑ Sell
 Adidas226.40↑ Sell
 Lufthansa6.714Neutral
 Siemens AG175.90↑ Sell
 Deutsche Bank AG15.010Neutral
Mua/Bán 1 chỉ SJC
# So hôm qua # Chênh TG
SJC Eximbank8,300/ 8,500
(8,300/ 8,500) # 1,298
SJC 1L, 10L, 1KG8,300/ 8,520
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SJC 99,99%7,370/ 7,470
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Cập nhật 01-05-2024 10:45:19
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$2,285.72-47.5-2.04%
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Sản phẩmVùng 1Vùng 2
RON 95-V25.44025.940
RON 95-III24.91025.400
E5 RON 92-II23.91024.380
DO 0.05S20.71021.120
DO 0,001S-V21.32021.740
Dầu hỏa 2-K20.68021.090
ↂ Giá dầu thô thế giới
WTI$80.83+3.390.04%
Brent$85.50+3.860.05%
$ Tỷ giá Vietcombank
Ngoại tệMua vàoBán ra
USD25.088,0025.458,00
EUR26.475,3627.949,19
GBP30.873,5232.211,36
JPY156,74166,02
KRW15,9219,31
Cập nhật lúc 10:45:15 01/05/2024
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