Re:Turkey bans use of cryptocurrencies for payments
by GuB-42 on Friday April 16, 2021 @09:01AM
(#26833326)
But the article specifically mention payments, not investment.
The way I understand it, you can buy and sell cryptocurrencies and store your money into Bitcoin instead of lira. However you can't say, "I will sell you this for X BTC", instead you have to sell it for Y lira (or euros, dollars, ... I suppose). How the buyer gets the money and what the seller does with it, including selling/buying cryptocurrencies is not part of the payment process, what matters is that there is no BTC on the bill, and presumably, the payment has to be traceable.
How it relates to currency stability, I don't know, but it looks more like an anti money laundering / tax evasion law.
The way I understand it, you can buy and sell cryptocurrencies and store your money into Bitcoin instead of lira. However you can't say, "I will sell you this for X BTC", instead you have to sell it for Y lira (or euros, dollars, ... I suppose). How the buyer gets the money and what the seller does with it, including selling/buying cryptocurrencies is not part of the payment process, what matters is that there is no BTC on the bill, and presumably, the payment has to be traceable.
How it relates to currency stability, I don't know, but it looks more like an anti money laundering / tax evasion law.