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caused by recent economic policies, Bitmov said he no longer trusts fiat currencies. Though the government maintains its stance toward bitcoin and other digital money, the idea for a national cryptocurrency seems to have better prospects. But unlike Iran, where retail investors often turn to in-person swaps and peer-to-peer exchanges like. According to, coinMarketCap, volume at Turkish exchanges Paribu, Btcturk and, koinim jumped over the past 24 hours by more than 100 percent each. The MHP, however, argues that instead of dismissing cryptocurrencies, Ankara should draw up legislation to regulate and control the market.
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7 interview, Deputy Prime Minister Mehmet Simsek, who oversees the economy, said the government would launch preparations for a national cryptocurrency. Turkey 's currency crisis and economy. Similarly, Bunyamin Yavuz, a cardiologist in Ankara, said he no longer trusts local banks and now buys XRP, monero, lumens, among other cryptocurrencies as part of his investment portfolio. Low risk combined with profits higher than the yields of sovereign bonds could make the currency attractive to aspiring investors. Headlines such as How the declining bitcoin made me a millionaire at age 26 work to rekindle demand, the most important factor that keeps cryptocurrencies standing. Absolute volumes are still relatively small at these exchanges, with Btcturk, the countrys largest, handling.6 million in trades. Erdogan also called on Turkish citizens to exchange any dollars, euros or gold they own for the lira to prop it up, according to media reports. The demand on the market will answer the second question, while on the first, financial giant JP Morgan predicts that cryptocurrencies are unlikely to disappear completely and could easily survive in varying forms and shapes among players who desire greater decentralization, peer-to-peer networks and anonymity.
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