Turkey and China Outlaw Crypto to Divert Attention from their Failing National Currencies

Cryptocurrency News and Public Mining Pools

Turkey and China Outlaw Crypto to Divert Attention from their Failing National Currencies

Turkeys President Erdogan has declared a "War on Crypto" while the turkish Lira is in literal free fall:

The current inflation rate is at a hot 20%

The Lira has lost 700% of its value compared to the (also inflating) US Dollar in the past years

This is catastrophic for a currency, what does Erdogan do? Shift attention to the "only used by criminals" Cryptos and declare a "War on Crypto"

The CCP has outlawed Crypto for the last 8 years every few months in a row:

China wants to make space for "Digital Yuan", their own digital currency

Digital Yuan has included surveillance mechanisms

Not only that: the CCP has already blocked their people from buying certain (legal) things in the past using their control of Digital Yuan

Crypto is in the way of digital Yuan, a thorn in the eye of the CCP who wants full control of their citizens through digital Yuan

submitted by /u/Dwez1337
[link] [comments]