Central Bank of Turkey bans the use of cryptocurrencies to pay for goods and services
The central bank of Turkey has banned the use of cryptocurrencies to pay for goods and services since April 30. This is noted in a statement on the regulator's website. After that, the bitcoin rate fell below $ 61,000.
The Central Bank noted that the use of cryptocurrency for payments can lead to "unrecoverable losses", since it does not fall under any regulatory and control mechanisms, and its cost is extremely volatile. Crypto assets are anonymous and can be used for illegal activities, the regulator noted.
In addition, settlements in cryptocurrency may "undermine confidence" in traditional methods and tools that are used in payments, the message says.
Earlier in January, the head of the European Central Bank, Christine Lagarde, warned that bitcoin is a "highly speculative currency" and can be used for money laundering. Speaking at the Reuters Next conference, she stated that the cryptocurrency needs to be regulated internationally.
Against the background of the statement of the Turkish Central Bank, the bitcoin rate went down to a precipitous fall, falling below $ 61,000 for the first time since April 13. According to Coindesk, the digital currency traded at a minimum of $ 60,454 per day