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[SCAMEXPOSER]

Governor Sahap Kavciogluc, of Turkey central bank has announced that the government has lift the ban on cryptocurrencies and the bank is working on regulating the activities of cryptocurrencies and in the next two weeks it should be available.

He said the country won't overrule Crypto currencies.
What's your opinion on this development?.

 

[Wisdom01]

This is a good development , the governments have finally seen the benefit of crypto currency and in order not to weaken their currency they have to adopt the use of it , i hope other banks also Remove their ban

 

[anil02]

Governor Sahap Kavciogluc, of Turkey central bank has announced that the government has lift the ban on cryptocurrencies and the bank is working on regulating the activities of cryptocurrencies and in the next two weeks it should be available.

He said the country won't overrule Crypto currencies.
What's your opinion on this development?.

I don't know much about economy of Turkey. Before few days I read that currency of Turkey is loosing value so peoples are more interested in crypto. But for peoples who are dealing in crypto it good for them

 

[Wisdom01]

I don't know much about economy of Turkey. Before few days I read that currency of Turkey is loosing value so peoples are more interested in crypto. But for peoples who are dealing in crypto it good for them

The turkish currency was already loosing too much value ,because of the fact that a lot of people were making use of the currency to buy dollar

 

[ELSA-ELI]

its something we should really analyze as to what is the major reason some other countries are still imposing or even banning the usage of cryptocurrency? Could it be that infrastructure to support the usage is key tpo ensure its allowed or also why regulate it when it has a self governing feature already.

 

[Wisdom01]

its something we should really analyze as to what is the major reason some other countries are still imposing or even banning the usage of cryptocurrency? Could it be that infrastructure to support the usage is key tpo ensure its allowed or also why regulate it when it has a self governing feature already.

They are not concerned on regulating it and others, the main reason is that crypto currency fetches them no revenue compared to the banks ,and now people are no longer saving in banks that much but on crypto currency

 

[ELSA-ELI]

@Wisdom01 somehow they are fetching money in one way or the other, take for instance we do not have facilities to withdraw cryptocurrency in most third world countries which mean through liaison with visa and Mastercard and some of the major mobile money financial institutions the central bank collects some revenue indirectly.

 

[SCAMEXPOSER]

@Wisdom01 somehow they are fetching money in one way or the other, take for instance we do not have facilities to withdraw cryptocurrency in most third world countries which mean through liaison with visa and Mastercard and some of the major mobile money financial institutions the central bank collects some revenue indirectly.

That's true because even for fiat Currency transactions that takes place there is a percentage that goes to the government through central bank likewise the commercial banks.

 

[Wisdom01]

@Wisdom01 somehow they are fetching money in one way or the other, take for instance we do not have facilities to withdraw cryptocurrency in most third world countries which mean through liaison with visa and Mastercard and some of the major mobile money financial institutions the central bank collects some revenue indirectly.

But the revenue cannot be compared with the fee banks charged for putting or keeping your money in the bank, so the government actually knows the effect on its financial institution

 

[Niftyicon]

This is great news for the Turkish populace and I aso think that making steps to regulate things is a better alternative to denying the people by banning crypto use.

 

[SCAMEXPOSER]

I love the fact that they had the courage to reverse the ban when they realise the importance of regulations than outright ban of the Crypto currency

 

[Wisdom01]

This is great news for the Turkish populace and I aso think that making steps to regulate things is a better alternative to denying the people by banning crypto use.

They know that they cant deny people fully ,many people would still find their way and medium and they would really regret banning the use of it

 

[Niftyicon]

I love the fact that they had the courage to reverse the ban when they realise the importance of regulations than outright ban of the Crypto currency

I hope Nigeria borrows that courage and gets off her high horse and re think the ban. We are definitely open to reasonable regulations for crypto to thrive.

 

[Wisdom01]

I hope Nigeria borrows that courage and gets off her high horse and re think the ban. We are definitely open to reasonable regulations for crypto to thrive.

The system of government is not in due process ,because i wonder where the banks could make a law themselves ,without the senate or other arms of government approval

 

[ELSA-ELI]

I hope Nigeria borrows that courage and gets off her high horse and re think the ban. We are definitely open to reasonable regulations for crypto to thrive.

you mean this is still the case in Nigeria that the central bank and its current government is still not allowing any transactions in cryptocurrency?

 

[Wisdom01]

you mean this is still the case in Nigeria that the central bank and its current government is still not allowing any transactions in cryptocurrency?

Yeah i live in Nigeria and things are still same ,the value of our currency have depreciated because of the ban on crypto trading in my country

 

[ELSA-ELI]

Yeah i live in Nigeria and things are still same ,the value of our currency have depreciated because of the ban on crypto trading in my country

i think this is a very biased decision that cannot be ignored because the feeling in mutual on so many factors and Nigerian central bank cannot make such a huge decision ion an African individual country when most of our market economies is influenced by international forces.

 

[Reznov]

these are pretty good news, i hope other countries take the same path and think about how much benefit cryptocurrency can bring to their countries

 

[Wisdom01]

i think this is a very biased decision that cannot be ignored because the feeling in mutual on so many factors and Nigerian central bank cannot make such a huge decision ion an African individual country when most of our market economies is influenced by international forces.

Its really biased all i hope is that there could be a change in government , that would actually help to change the ban been set up

 

[ELSA-ELI]

i

Its really biased all i hope is that there could be a change in government , that would actually help to change the ban been set up

In my country what the central bank has stressed is that btc and cryptocurrency is not a legal tender therefore you cannot be given audience to discuss it at length but since its a democratic country not all banks will be regulated to receive resources coming from such sources .As a matter of fact there there are some international financial institutions that will not allow you to purchase crypto with their virtual card or physical card such as paysera.