Bitcoin Pizza To Date: Hundreds Of Billion Dollar Setback After Ban

Bitcoin Pizza To Date: Hundreds Of Billion Dollar Setback After Ban

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The volume of the cryptocurrency market declined after the Central Bank of the Republic of Turkey banned the use of cryptocurrencies in payments by a regulation published in the Official Gazette last night.

Global cryptocurrency market volume has declined by about $ 100 billion due to concerns about similar restrictions from other countries, according to the world's news. Bitcoin (BTC) fell to $ 60k yesterday. Ether (ETH) fell to the $ 2,356 limit.

From Bitcoin Pizza to crypto payment ban...

After Tesla paved the way for the sale of cars with Bitcoin, the use of cryptocurrencies as a payment method was adopted. In the same way, many companies have paved the way for payment with cryptocurrency in exchange for their services. In history, the purchase of products with cryptocurrency took place with pizza. The sale of this pizza, referred to as Bitcoin Pizza, was made by Laszlo Hanyecz on May 22, 2010. Hanyecz bought 2 pizzas with 10 thousand BTC.

In Turkey, Royal Motors, a distributor of Rolls-Royce and Lotus Brands, announced this week that it would accept cryptocurrency purchases. The use of cryptocurrencies in Turkey is a plus in parallel with the depreciation of the Turkish lira.

February to March 24, the volume of cryptocurrencies in Turkey was 218 billion pounds ($26 billion),according to Chainanalysis, a US research organization. That amount was just over £ 7bn a year ago.

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