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Turkey bans crypto payments and Bitcoin feels the pain – Al Jazeera English

Bitcoin fell more than 4% after Turkey’s central bank banned the use of cryptocurrencies to pay for goods and services.

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Bitcoin tumbled more than four percent on Friday after Turkeys central bank banned the use of cryptocurrencies and crypto assets for purchases, citing possible irreparable damage and transaction risks.
In legislation published in the Official Gazette, the central bank said cryptocurrencies and other digital assets based on distributed ledger technology could not be used, directly or indirectly, to pay for goods and services.
The decision could stall Turkeys crypto market, which has gained momentum…

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