Bitcoin feels pain as Turkey bans crypto payments onlinemoney.work

Bitcoin declined to more than 4% on Friday because Central Bank of Turkey banned cryptocurrencies for making any payments for goods and services.

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In official Gazzet, The Central Bank of Turkey said cryptocurrencies and other such assets could not be used to pay for the services and goods, directly or indirectly.

The main opposition party opposed the decision, as soon as bitcoin went down 4.6% at a net rate of $60,333 at 11:17 GMT. Other coins like XRP and Ethereum also fell between 6-12 %.

In a declaration, it was said by the Central bank “neither subject to any regulation and supervision mechanisms nor a central regulatory authority” between the other risks of security.

“The Payment service developers wouldn’t be able to organize business models such that crypto assets might be used in the direct or indirect manner for the payment services.” It finalized.

Bitcoin feels pain as Turkey bans crypto payments    onlinemoney.work