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Cryptocurrency

Bitcoin price falls after Turkey’s decision to ban cryptocurrency payments

1 Mins read

The measure, which will take effect from April 30, was motivated by the lack of “regulation by the central authority” and “supervisory mechanisms” for cryptocurrencies.

The price of bitcoin has fallen more than 3% this Friday following the decision of the Central Bank of Turkey to prohibit direct and indirect payments with cryptocurrencies.

According to the Turkish Central Bank, digital currencies can cause non-recoverable losses for the parties involved in a transaction due to the lack of regulations, as well as undermine confidence in the methods and instruments currently used to make payments, indicates RT.

This Wednesday, bitcoin reached a new record, reaching $ 64,717 per unit, but after Turkey’s decision it is trading at approximately $ 61,000

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