The emergence of Bitcoin has sparked a schizophrenic response: Investors embrace it, but some governments scorn cryptocurrencies while others seek to ban them.
Bitcoin fell about 4% last month after Turkey's central bank prohibited the use of crypto in commerce, citing the danger of "irreparable" damage and transactional risk.
"Their use in payments may cause non-recoverable losses for the parties to the transactions, and include elements that may undermine the confidence in methods and instruments used currently in payments," Turkey's central bank said when it announced the ban.
India is considering a ban on cryptocurrencies.
The People's Bank of China, the nation's central bank, said it plans to "block access to all domestic and foreign cryptocurrency exchanges and (Initial Coin Offerings) websites."
Read More at https://www.newsweek.com/turkey-india-china-look-ban-crypto-us-germany-iran-move-use-it-1589338
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