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A comment on Turkey bans use of cryptocurrencies for payments. Parent comment

Re:Turkey bans use of cryptocurrencies for payments by tim333 on Friday April 16, 2021 @05:42AM (#26831723)
Lots of 3rd world countries allow tourists to change hard currency to local money but not the other way around.

It seldom works very well though in terms of bringing prosperity to the country.

[ Parent | on HN ]
Re:Turkey bans use of cryptocurrencies for payments by dirktheman on Friday April 16, 2021 @06:58AM (#26832305)
Yes, it usually ends up with a shadow economy where everybody just uses foreign currency for all things that don't concern the government.
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Re:Turkey bans use of cryptocurrencies for payments by tim333 on Friday April 16, 2021 @07:09AM (#26832398)
It also puts off and foreign investors, makes it hard for local businesses to import stuff they need. And leads to corruption if you can only change local to foreign if you get a permit from the ministry run by the presidents nephew etc.
[ Parent | on HN ]