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Turkey closes door to bitcoin

Against the backdrop of a global bitcoin frenzy, the Turkish government has taken a stance against cryptocurrencies.
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Riding a wave of abnormal appreciation, bitcoin has become the world’s most popular virtual currency. And while its acceptance around the globe is increasing, Turkey is unwelcoming. The Turkish government sees virtual currencies as a bubble bound to explode and advises citizens to stay away.

Virtual money transactions have come under close scrutiny by the Central Bank of Turkey, the Capital Markets Board (CMB) and the Finance Ministry. While the Central Bank is trying to figure how far the trend might reach, the CMB warned brokers in early December against conducting spot-trade and similar transactions based on virtual currencies.

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