Opposition Party is not Happy after Turkey’s Central Bank Banned Bitcoin

Turkey is known for booming business and tech-oriented opportunities and landscape, but when it came to digital currency, especially Bitcoin, it got banned right away. Turkey’s newly appointed central bank governor has issued the statement that any type of cryptocurrency will be banned to use from now on. Bitcoin appears to be caught in the crossfire as the opposition party leader has supported Bitcoin and the use of other cryptocurrencies against the decision that has been made alive by the central bank’s governor. 

The new resolution was to kick on 30th April. Each and every online transaction that involved payment through cryptocurrency and any conversion of fiat to cryptocurrency and its trading will be rendered illegal. Any and all use of cryptocurrency for the sake of making payments and commencing in any kind of deal whatsoever will be prohibited from the proposed date. 

All of this can’t be subjected to something that was too sudden or depicting this like a rash decision made by the government; there are regions out there that don’t like having cryptocurrencies meddling in their financial affairs or people using them for the sake of making transactions and such. No one can force the other to like the idea of decentralization and seeing how it imparts a positive change on their financial future in the long run.

Bitcoin Support Intensifying on Twitter in Turkey

After the central bank governor’s statement about banning cryptocurrency went live, the opposition party leader Kemal Kılıçdaroğlu came out in extensive support of not only cryptocurrency but Bitcoin as well. He did send out a series of tweets, and the main idea of these tweets was that no one was asked or consulted in the execution of the crypto ban, and his tweets did refer to the Turkish president, who is seen as an authoritarian and a dictator as well. Another tweet mentioned that he will sit with the stakeholders and discuss the possible outcome of this or whether continuing with Bitcoin and crypto was the best move that can be made? Later on, it came to light that continuing with cryptocurrencies, especially Bitcoin, would have been the right step forward.

Leave a Reply

Your email address will not be published.

Related

GBP to USD Prediction – Bulls Target $1.2450 Amid Weak U.S Jobs Report

It is somewhat of a GBP-USD day. The market does not have the United Kingdom’s economy to ponder today. Meanwhile, the attention has remained on the Federal Reserve following GBP-USD’s Thursday $1.23 return. The currency has never explored the value since June. Though hawkish bets place the sterling at the $1.25 mark into 2023, massive […]

Britain’s Chancellor Defers Tough Decisions to The Next Administration

The new British government is characterized by its severance to caution when it comes to its economic administration and its readiness to devote itself to performing just causes, regardless of the financial toll on the political sector.  As its precursor, Liz Truss, in September, decided to divide Britain’s economic organization, and the event exposed enormous […]

Genesis Halts Withdrawals Amid a Collapse of The Digital Currency Market

Genesis Global Capital has stopped processing withdrawals, confirming this week’s rumors. This is the most current lending program to file for bankruptcy. In 2022, Celsius Network, Voyager Digital, and other companies did so. At the moment, Derar Islim is Genesis’ acting CEO. Islim told Investors that the firm is looking at its options and seeking […]

Nayib Bukele Pledges To Buy 1 BTC Daily for El Salvador

The President of Els Salvador has pledged to start buying at least 1 BTC daily. This news emerged months after El Salvador is said to have completed its final BTC acquisition, 80 BTC at quite a cost of $19k each, in July this year. Previous Buy History of El Salvador  As per information from Buy BTC […]

Indonesia’s Central Bank Raises Rates By 50 Bps

In light of a robust economy and “high” inflation expectations, the Bank of Indonesia said on Thursday that it would act more firmly. As a result, the bank has increased the benchmark interest rate for the third consecutive month. A Global Economic Slowdown Bank of Indonesia was expected to increase the 7-day reverse repo rate […]