Turkey Crypto money is not banned - Only Determined of Usage

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Turkey's Central Bank has published a new announcement regarding the news of the ban crypto currencies.

Turkey's Central Bank "Crypto money is not banned, The concept of crypto asset has been defined and its usage principles have been determined. ''

Cryptocurrencies has been defined "It refers to intangible assets that are created virtually using distributed ledger technology or a similar technology and distributed over digital networks, but are not qualified as fiat money, registered money, electronic money, payment instrument, securities or other capital market instrument."

Why was this regulation needed?
In my opinion,

  • Turkey is one of the countries with the most crypto crypto currency investors. Because inflation is high, people are looking for an instrument they can make money
  • In recent months, a significant number of new Turkish investors have met cryptocurrencies for the first time.
  • In the company where I work, there are no people left who do not have crypto money :)
  • Crypto currency market in Turkey's crypto exhanges volume has doubled Borsa Istanbul Stock Exchange.
  • Borsa Istanbul Stock Excahnge has been decreased for the last month, so investors are switching to Crypto money.
  • And the most important reason, Turkey's government will bring Crypto tax money. Therefore, it did not define crypto coins as money. They will impose income tax on cryptocurrencies...

turkeyissearchingbitcoinafter15dropinnationalcurrency.jpeg

For these reasons, the government has banned sending money to crypto exchanges with electronic payment systems in order to control cash flows to and from Crypto exchanges.

Tax is coming...

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6 comments
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Banning crypto only hurts their people from growing and investing. I don't think any govt would ban crypto since many countries adopting crypto culture more than before.

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What's the thing then?
Can you buy and sell via Binance for example? What's the exact situation there?

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Sure. We can sell and buy in all exchanges. The only thing that We cant send money to Binance or other exchange with electrical payment method. We should only use bank to transfer to exchange. That is why tax will come. Money should be followed...

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