Turkey bans use of cryptocurrencies for payments
The Hindu
A growing boom in Turkey's crypto market had gained further pace recently, with investors hoping to both gain from bitcoin's rally and shelter against inflation
(Subscribe to our Today's Cache newsletter for a quick snapshot of top 5 tech stories. Click to subscribe for free.) Turkey's central bank banned the use of cryptocurrencies and crypto assets to purchase goods and services, citing "irrepairable" possible damages and significant risks in such transactions. In legislation published in the Official Gazette overnight, the Central Bank of Turkey (CBRT) said cryptocurrencies and other such digital assets based on distributed ledger technology could not be used, directly or indirectly, as an instrument of payment.More Related News
The decline in India’s net foreign direct investment (FDI) inflows, which have dropped almost 31% to $25.5 billion over the first ten months of 2023-24, is in line with the slowdown in such investments to developing countries, the Finance Ministry has said, while holding out hope for an uptick in investments this year.