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The news is misleading. You can still buy, sell and trade cryptocurrencies, but you can't use them for payments. I think people in Turkey got a bit scared becau
by m00dy 6y ago
The news is misleading. You can still buy, sell and trade cryptocurrencies, but you can't use them for payments. I think people in Turkey got a bit scared because of the previous burst, and now all wanted to withdraw their coins. We see a classic bank run here. Luckily, this one has a very low volume.
- grey-area 6y agoThe news is misleading. You can still buy, sell and trade cryptocurrencies, but you can't use them for payments. So functionally the same as the rest of the world then.
- m00dy 6y agoyeah, So I don't think there is a crackdown on cryptocurrencies. But there will be a regulation for centralised exchanges to have a certain amount of full paid capital.
- tradertef 6y agoIn the first (bigger case), it was clearly fraud (exit scam) as the CEO sold some coins very cheaply and gave away some crypto to anyone who signed up. The amount was 150+ million USD [1]. Second exchange had financial problems likely because they lost some money by keeping their assets in Lira or Dollars. This whole saga will of course cause panic in the "investors" which might cause other dominos to fall in coming weeks. [1] https://twitter.com/tufanpoyrazz/status/1386068710562181130 https://twitter.com/tufanpoyrazz/status/1386068710562181130