The Central Bank of the Republic of Turkey presented a report to parliament detailing its views on cryptocurrencies.
The document, which fell into the hands of journalists, lists the inherent risks of digital assets. In particular, the Central Bank drew attention to environmental problems.
"Cryptocurrency mining consumes a lot of energy, contributing to global warming," the regulator said.
For the first time, the Turkish central bank criticized bitcoin for its negative impact on the environment. According to the Cambridge Business School, the country accounts for 0.03% of the total network hashrate of the first cryptocurrency.
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For comparison, neighboring Iran, which, according to media reports, will impose fines for miners for using household electricity, accounts for 3.82% of the hashrate.
Among other risks, the regulator named the lack of control and supervision mechanisms for cryptocurrencies, market volatility, the anonymity of some assets, threats of hacker attacks, as well as the irreversible nature of transactions.
Recall that in April, the central bank of Turkey banned payments in cryptocurrencies. The restrictions do not apply to bitcoin exchanges.
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In May, Turkey obliged digital asset trading platforms to comply with anti-money laundering and anti-terrorist financing requirements.