Turkey's President Starts a Fight Against Cryptos
Main page News, Turkey, Cryptocurrency
Hot topic
Sept. 20, 2021

Turkey's President Recep Tayyip Erdoğan has said in a meeting with students that the authorities and the Central Bank of Turkey have no problems with opening up to cryptocurrencies, on the contrary, they are "waging a separate war and fight" with them, BloombergHT reports.

According to him, the country does not intend to contribute to the proliferation of private digital assets, but will continue to use its own currency.

Notably, Erdoğan's statement has come in the form of a response to a question about the platform for the digital lira, whose memorandum of creation has been signed by the country's Central Bank and three national research and technology companies.

Subscribe to our Telegram channel to stay up to date on the latest crypto and blockchain news.

The tests of the central bank digital currency (CBDC) in the country were expected to begin during the second half of this year.

The Central Bank of Turkey has banned the use of cryptos as a means of payment this year. The regulator criticized Bitcoin for environmental risks, volatility, anonymity, irreversibility of transactions and lack of control and supervision mechanisms.

In July, Turkey completed work on a draft law aimed at regulating cryptos in the country.

Read also:
Please describe the error