Turkey to setup a central bank to hodl Bitcoin for Exchanges... this after banning it as use for payments last week

in #bitcoin2 months ago

You can't make this stuff up...

A week ago bitcoin and crypto world was ablaze as news was pouring out about Turkey banning bitcoin and crypto.

When the dust settled it was clear they weren't actually banning bitcoin, but instead just banning bitcoin and crypto from use in payments.

People were still free to invest.

Some speculated that would soon be banned as well, but the news out last night says there is no chance of that...

Turkey announced they are setting up a central bank to custody bitcoin etc for the crypto exchanges in the country.

Check it out:

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https://www.bloomberg.com/news/articles/2021-04-27/turkey-cryptocurrency-exchange-bust-spurs-move-for-regulation

This is pretty surprising and pretty awesome at the same time.

One of the main weak points of bitcoin investing currently is the risk of exchange hacks.

Now I know most people don't like governments around here, but would you rather have your crypto being held by a government insured and protected bank or by some high school dropouts running a crypto exchange.

I have a guess...

This confirms that bitcoin investing isn't going away any time soon, even in the places that may move to eliminate payments in it.

Which isn't that absurd when you think about it, I mean most places don't accept gold or stocks as a form of payment... which is closer to what bitcoin is currently.

Stay informed my friends.

-Doc

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Seems crazy maybe turkey will be first county to adopt it because of the Lira. Or Iran, will US make war as a result? crazy times.

I don't think they will due to them banning its use for payments. However, I do think this is great news and possibly sets a precedence for the rest of the world. Can you imagine governments setting up central banks to custody bitcoin and how much safer that would made crypto investing globally?! That's also a major step in the global reserve currency direction as well...

BTW, nice to see you here! Judging by what I am seeing already with STEEM and SBDs, I think they could pump STEEM over $10 at some point this year...

Yeah sounds like its in the bag really. Think it could take everyone by surprise, i never left because im not stupid. On the fence with all the politics but part of me would like to see Hive get what it deserves in all honesty. I see both sides of the argument but i mean come on, if it was Vitalik Buterin would they have done the same? doubt it. People give it praise because a community rose up and forked off when they didnt like what they saw, which is great but when its an over reaction and a finger to a guy who meant no real harm?? He took the brunt of what should have been to Ned well before. It ned who should have been forked over not Justin. Ned got away with the real shadiness here. Its just all wrong, anyway bring on the 10 dollars and the sellers remorse.

you are right!
no future with hate to investor!

This is very amazing news, we hope that someday all countries will provide guarantees for their citizens who invest in Cryptocurrency.

Currently in Indonesia there is a government agency that guarantees digital currency investment

never know what will happen in the markets…

hey folk great info and I think they should and remove its banning even Pakistan has allowed it in some areas where minners and investers are working on it. I can have my new blog on it if you like too.

Only a matter of time before all follow