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Turkish President Says the Country is “At War” With Cryptocurrencies

Turkish President Cryptocurrencies

Rate this post Turkish President Recep Tayyib Erdogan said on Friday that his country is at war with cryptocurrencies. He made the comments during a youth conference, following a question about the Central Bank’s opinion of cryptocurrencies. Turkish President Declares War on Cryptocurrencies Despite crypto’s widespread popularity in Turkey, its citizens may not get the chance to hold digital assets legally. The reason for this can be attributed to the country’s leadership, which has recently declared a war on cryptocurrencies. Speaking to students from 81 provinces on Friday, Turkey’s firebrand president Recep Tayyip Erdogan indicated his country will not open to digital assets anytime soon. Erdogan’s comments came in response to a question that asked him about the Central Banks’s perception of cryptocurrencies: “We are in a war against Bitcoin,” he said.“Because we will continue on the road with our money, which is our fundamental identity in this matter.” Many Turkish investors have turned to cryptocurrencies as a hedge against the lira’s volatility on forex markets. Their involvement with the nascent asset class was also encouraged by the lack of regulations until this year. According to Statista, some 16% of Turkish citizens owned or used cryptocurrencies in 2020. However, the country took a hard line against crypto assets in April. Turkey’s Central Bank outlawed the use of cryptocurrencies in payments for goods and services, highlighting “irrevocable” risks.  In its explanation, the bank noted that digital assets are “neither subject to any regulation and supervision mechanisms nor a central regulatory authority. Their market values can be excessively volatile.”  Digital Lira to Play Key Role in Turkey’s Revival Erdogan’s aversion to crypto-assets could be connected to his economic development framework, which places heavy emphasis on the digital lira. The central bank digital currency (CBDC) is supposed to play a key role in Turkey’s economic revival by 2023, and facilitate cross-border payments in-and-out of the country. With all its efforts concentrated on the digital lira, the government has probably decided to assert its supremacy over all available alternatives. That would explain the heightening scrutiny of crypto assets and the recent efforts to regulate them.

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Turkish President Recep Tayyib Erdogan said on Friday that his country is at war with cryptocurrencies. He made the comments during a youth conference, following a question about the Central Bank’s opinion of cryptocurrencies.

Turkish President Declares War on Cryptocurrencies

Despite crypto’s widespread popularity in Turkey, its citizens may not get the chance to hold digital assets legally. The reason for this can be attributed to the country’s leadership, which has recently declared a war on cryptocurrencies.

Speaking to students from 81 provinces on Friday, Turkey’s firebrand president Recep Tayyip Erdogan indicated his country will not open to digital assets anytime soon. Erdogan’s comments came in response to a question that asked him about the Central Banks’s perception of cryptocurrencies:

“We are in a war against Bitcoin,” he said.“Because we will continue on the road with our money, which is our fundamental identity in this matter.”

Many Turkish investors have turned to cryptocurrencies as a hedge against the lira’s volatility on forex markets. Their involvement with the nascent asset class was also encouraged by the lack of regulations until this year. According to Statista, some 16% of Turkish citizens owned or used cryptocurrencies in 2020.

However, the country took a hard line against crypto assets in April. Turkey’s Central Bank outlawed the use of cryptocurrencies in payments for goods and services, highlighting “irrevocable” risks. 

In its explanation, the bank noted that digital assets are “neither subject to any regulation and supervision mechanisms nor a central regulatory authority. Their market values can be excessively volatile.” 

Digital Lira to Play Key Role in Turkey’s Revival

Erdogan’s aversion to crypto-assets could be connected to his economic development framework, which places heavy emphasis on the digital lira. The central bank digital currency (CBDC) is supposed to play a key role in Turkey’s economic revival by 2023, and facilitate cross-border payments in-and-out of the country.

With all its efforts concentrated on the digital lira, the government has probably decided to assert its supremacy over all available alternatives. That would explain the heightening scrutiny of crypto assets and the recent efforts to regulate them.

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Source: https://www.cryptoknowmics.com/news/turkish-president-says-the-country-is-at-war-with-cryptocurrencies/

Blockchain

Why Nigeria Has The Highest Percentage In Bitcoin Usage In The World

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Nigeria Bitcoin Community

Twitter CEO Jack Dorsey posted that Nigeria is one of the world’s largest users of cryptocurrencies.

We are talking about the percentage of the country’s residents who are actively using digital finance to the total number of citizens.

In Nigeria, that percentage is 32%!

They use it in shopping, making les paris sportifs au Senegal on popular sports, investing and mining.

According to the analytics platform Statista, Nigeria does rank first among countries whose residents use bitcoin.

In second place are residents of Vietnam (21%), followed by the Philippines with 20%.

Also on the list of countries where Bitcoin (BTC) is popular are Turkey, Peru, Switzerland, India, China, the United States, Germany, and Japan.

Perhaps Nigeria’s leadership is due to the fact that the country’s authorities — for example, Nigeria’s Vice President Yemi Osinbajo — have repeatedly stated their support for cryptocurrency.

In his tweet about bitcoin being popular in Nigeria, Jack Dorsey mentioned writer Samantha Messing.

She published an open letter titled “Why Progressives Should Love Bitcoin.”

In this letter, it was noted that any Nigerians’ interest in cryptocurrencies is primarily due to the deplorable state of the country’s financial industry and the peculiarities of the local population.

“Nigeria’s population is one of the youngest in the world,” the letter’s author notes, suggesting that it is youth and flexibility that allows Nigerians to be as progressive as possible in order to appreciate the new opportunities that Bitcoin gives them.

Samantha Messing evidently wants as many people as possible to learn about Bitcoin, so she tries to popularize digital gold in every possible way.

In her letter, the author even published several links to educational programs concerning Bitcoin, because she wants people to really understand it.

As the Nigerian naira falls in value, bitcoin is becoming a real lifesaver for the population.

The figure of 32% of the country’s population owning bitcoins is, indeed, the highest percentage in the world.

The popularity of cryptocurrencies in Nigeria is also confirmed by other data, such as the fact that in 2020, remittances to Nigeria exceeded $17 billion and a significant portion of that amount was transferred in cryptocurrency.

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Source: https://medium.com/nigeriabitcoincommunity/why-nigeria-has-the-highest-percentage-in-bitcoin-usage-in-the-world-cf06d9788263?source=rss——cryptocurrency-5

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Bitcoin non è una moda, lo dice il CEO di Morgan Stanley.

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Conio Team

Fonte: Cryptonomist

Il CEO di Morgan Stanley, James Gorman, ha affermato che Bitcoin non rappresenta solo un’usanza del momento. “Non credo che Bitcoin sia una moda passeggera”, ha detto Gorman la scorsa settimana agli analisti durante l’assemblea sugli utili del terzo trimestre. “Non so quale dovrebbe o non dovrebbe essere il valore di Bitcoin. Ma non andrà via e la tecnologia Blockchain che lo supporta è ovviamente molto reale e potente”.

Gorman ha aggiunto che l’azienda sta fornendo ai clienti l’accesso alle criptovalute attraverso vari fondi, ma non le scambia direttamente per loro. “Stiamo attenti, siamo rispettosi e aspetteremo di vedere come se la caveranno i regolatori”, ha concluso Gorman.

Lo scorso giugno ha inoltre formalizzato la richiesta per la creazione di un nuovo fondo di investimento in Bitcoin, in risposta all’esigenza di clienti istituzionali che volevano esporsi alla criptovaluta. Questi fondi permettono agli investitori di esporsi su Bitcoin senza acquistarlo direttamente, come l’ETF appena approvato negli Stati Uniti.

Morgan Stanley è stata la prima banca a consentire ai clienti l’accesso al settore ai propri clienti. Altre istituzioni affermate, tra cui JPMorgan, Goldman Sachs e Citigroup, stanno cercando di espandere la propria presenza nello spazio delle criptovalute. Goldman consente a determinati clienti di scambiare criptovalute attraverso un prodotto derivato e Citigroup sta cercando di iniziare a negoziare criptovalute attraverso un fondo. JPMorgan invece consente ai clienti di accedere a sei prodotti di investimento in criptovalute.

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Source: https://blog.conio.com/bitcoin-non-%C3%A8-una-moda-lo-dice-il-ceo-di-morgan-stanley-fdc00222e808?source=rss——cryptocurrency-5

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Open DeFi: Risk Management Notification Protocol by Binance, Orbs & Moonstake

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Finally available for DeFi investors from tomorrow onwards, the renowned Defi.org Accelerator – a Joint Venture project co-created by Orbs, Binance and Moonstake – proudly announces the launch of their chain-agnostic Risk Management Notification Protocol for mobile devices.

This unique Open DeFi Notification Protocol comes to life to allow investors and DeFi users to manage their operations in the decentralized finance universe reducing their loss risks to a minimum especially during market volatility.

Open DeFi: Helping DeFi Traders Reduce Risk

The Open DeFi Notification Protocol permits users to set up any number of alerts for different DeFi apps.

Orbs, the public blockchain platform, announced the launch of the Open DeFi Notification Protocol, a key application product especially created to assist users with unlimited free mobile notifications for impactful on-chain events.

This unique Open Notification Protocol was developed within the DeFi.org organization, co-created by the Orbs blockchain platform, Binance crypto exchange and Moonstake crypto wallet provider.

The Defi.org Accelerator was conceived primarily to develop further creative policies and the necessary tools towards the next level of innovation in decentralized finance, by providing liquidity, support and validation within the ever growing DeFi global ecosystem.

The recently announced Open DeFi Notification Protocol publicly available from tomorrow is basically an event-aggregator of contributions from community members that records significant events.

These events include smart contract creations and upgrades, blockchain governance votes, blockchain accumulated pending rewards, cryptocurrency price swings, prominent liquidations, stop losses, and more.

DeFi users like traders or liquidity providers, by accessing this type of data, can better manage their asset portfolios with superior tools to foresee and react to impactful events. The Open DeFi Notification Protocol allows a secure management by risk reduction, unarguably valuable in volatile market periods.

All DeFi projects can choose to differentiate themselves from competition by providing its customers with unlimited free mobile notifications of key sensitive information. All these Defi platforms need to do is integrate with Github for 30 minutes.

Orbs’ co-Founder Tal Kol describes the product in his own words,

“Transparency is a hallmark of blockchain, yet reliable mobile notifications that can aid the DeFi community are virtually nonexistent…our talented team has created a user-friendly protocol that functions almost like a reactive DeFi assistant, alerting users to the possibility of impending liquidations, significant price swings, contract upgrades and the like. We are positive it will make a huge impact.”

Initially the beta version of the Open DeFi Notification Protocol relies on a centralized node for tracking and display of the significant events recorded.

Orbs is working towards the launch of an updated improved version very soon that will rely on the decentralized Orbs network of independent nodes.

The beauty behind this announcement is that users will be able to set up an unlimited number of notifications linked to a variety of DeFiapplications, all of it integrated on a single open-source interfase comprising several dApps architecture frontends.

No previous registration is required, defi users will simply need to download the mobile app “DeFi Notifications” for iOS or Android and further scan their QR address in MetaMask (or the QR position in their app’s UI).

To make it even easier, in the Orbs’ official YouTube channel there is a tutorial video of this new DeFi Notification Protocol working with Sushi as an example.

Tal Kol added,

“The great thing about the Protocol is that it can work with emerging DeFi projects. All that’s required is the implementation of a simple JavaScript web3 class, to extract the notification from the on-chain data. This is then contributed via PR to the Protocol Github repo.”

Orbs Makes Connections Happen

The public blockchain platform Orbs was specifically designed to grant mass DeFi applications the integration with EVM-based L1 and L2 blockchains such as Ethereum, Binance Smart Chain (BSC), Polygon, Solana and Avalanche.

The decentralized Orbs protocol, powered by their ORBS native token, is operated by a public network of permissionless validators upon a PoS (proof-of-stake) consensus.

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Source: https://blockonomi.com/open-defi/

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