Bitcoin and crypto money markets started the week with a busy agenda. While the uneasiness and news flow in the global markets caused the price to fluctuate, some rumors began to circulate in the country that would make the investors nervous.
As you know, he has been working to regulate the crypto money markets in Turkey for a while. At this point, the representatives of the sector are also being interviewed.
According to Selcoin’s claim, a large domestic stock market makes the following suggestion to the regulators. “Let’s prevent users from taking money abroad. Let them buy/sell only on our domestic exchanges.” Selcoin stated that this proposal is a problematic one and shared it with his followers.
The government collects information from cryptocurrency domains to bring about regulation.
A large domestic stock market also makes the following assessment:
‘Let’s prevent users from taking money abroad. Let them buy/sell only on our domestic exchanges’
A tough proposition.
— Selcoin (@Selcoin) September 13, 2021
Experts state that this proposal contradicts the general logic of cryptocurrencies and that it is not possible for the system to work in this way. Expressing that investors will be pushed more underground, experts find the offer unacceptable.
In addition, it is stated that the proposal contains some security risks. The fact that exchanges are adopting a closed system means that crypto assets cannot be withdrawn into cold wallets either. Considering the grievances experienced in the Thodex and Vebitcoin exchanges, which are still warm, it is considered that the closed-circuit system will raise big question marks.
The dire part of the event is that this proposal comes from a cryptocurrency exchange, not from regulators who do not want the funds to go abroad. We believe that this proposal, driven by the desire to make more money, will deal a major blow to the industry and is therefore unacceptable.
No, it’s like you have a system to remove it if everyone uses the local stock market!