has now been met with an immovable object – the long arm of the state.
But with crypto’s meteoric rise, the flipside of the coin is government pushback – as witnessed from China, Russia, to India. And it appears Turkey has joined the fray too.the use of cryptocurrencies as payments for goods and services, citing possible “irrevocable” damage and significant transaction risks.
By defining crypto as an asset in the regulation – rather than a currency – means the government has removed the option of crypto being a medium of exchange off the table. On April 20, Istanbul-based Thodex abruptly ceased its operations while holding investments from around 390,000 active users. The shutdown triggered a manhunt for the 27-year-old founder and CEO Faruk Faith Ozer, who fled to Albania with a reported $2 billion in investor assets.
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dogecoin
It’s called “cryptocurrency” for a reason otherwise it would be “cryptoasset”