Turkish authorities will continue to fight against cryptocurre | DeFI News & Alerts

Turkish authorities will continue to fight against cryptocurrencies

Back in April 2021, a ban on all transactions with bitcoin and other digital currencies came into effect in Turkey.

Late last week, the country's president, Recep Tayyip Erdogan, promised to maintain a tough course toward the cryptocurrency industry.

Ankara is not interested in any payment instrument other than the Turkish lira being used in the domestic market. Therefore, the government, together with other supervisory authorities, will prosecute companies that provide storage and exchange services for digital assets.

In parallel, Turkey is accelerating a project to create an electronic version of the lira, Erdoğan said during his speech to students.

He stressed that at the beginning of September this year, the testing of a platform for processing transactions with the Central Bank token tied to the Turkish national currency began.