• İstanbul 12 °C
  • Ankara 13 °C

Turkish Treasury conducting study on cryptocurrencies

Turkish Treasury conducting study on cryptocurrencies
Treasury and Finance Ministry says it monitors recent developments on cryptocurrencies

By Gokhan Ergocun

ISTANBUL (AA) - Turkey's Treasury and Finance Ministry is carrying out study on cryptocurrencies amid recent debate over Bitcoin.

In a press release on Monday, the ministry said it is collaborating with the Turkish Central Bank, the Banking Regulation and Supervision Agency, and the Capital Markets Board in its research.

"We share worldwide concerns about cryptocurrencies," the statement noted.

It added that the developments are monitored by the ministry.

Invented in 2008, Bitcoin -- the most-known and leading cryptocurrency -- has been the top topic of the economy agenda in the recent period.

While its value is around $47,800 currently, it was only $8,900 a year ago and around $400 five years ago.

There are thousands of cryptocurrencies which are listed on different exchange markets, including Binance, Bittrex and Bitstamp.

Cryptocurrencies are basically digital currencies, such as Bitcoin, Ethereum and Ripple, which can be transferred between accounts and exchange markets and can be spent.

They are decentralized with blockchain technology, without a central bank or single administrator.

Although their usage has increased all around the world, digital currency has not yet been approved by all financial authorities and there are ongoing significant risks, such as high fluctuation band.

On the other hand, some countries, such as China and the United Arab Emirates, are working on official cryptocurrencies.

Bitcoin and other digital assets are expected to be discussed globally in the upcoming period.

source: News Feed
This news is a total 23 time has been read
UYARI: Küfür, hakaret, rencide edici cümleler veya imalar, inançlara saldırı içeren, imla kuralları ile yazılmamış,
Türkçe karakter kullanılmayan ve büyük harflerle yazılmış yorumlar onaylanmamaktadır.
This news yet comment has been added .
Other News
All Rights Reserved © May 2014 US Muslims | Unauthorized and the resources published.
Haber Scripti: CM Bilişim