Cryptocurrency report from AK Party: It is very difficult to confiscate cryptocurrencies

AK Party presented a crypto money report. The AK Party’s “Cryptocurrency, Bitcoin and Blockchain” report, which puts Bitcoin on the table, pointed out that it is very difficult to confiscate cryptocurrencies.. AK Party conducted a study focusing on cryptocurrencies such as Bitcoin.. In the crypto money report, which noted that the tracking, taxation and supply of virtual currencies is not possible, it was stated that “The biggest risk regarding cryptocurrencies is that the use of these currencies is prohibited by the states because they are open to black money transactions.” According to the report, it was emphasized that such currencies can lose a lot of value and that it is difficult to confiscate these coins.

Cryptocurrency Report Details

“Cryptocurrency, Bitcoin and Blockchain ”, the following statements were included in the report:

VITAL MONEY: Cryptocurrency refers to a virtual currency used via the internet that is not affiliated with any central authority or intermediary institution.. Cryptocurrencies bear this name because they can only be extracted and used through passwords from virtual wallets where they are placed using certain passwords.. With cryptocurrencies, individuals or institutions can spend or accept money just as they would with real money.

NOT PRINTED: They are virtual only because they are registered in the computer system.. In other words, these currencies are not physically available in printed form, such as dollars, euros, and TL.. Its value stems from the fact that users accept it as a medium of exchange or see it as a commodity. It was reminded that the Diyanet does not find it permissible to use such coins.

IT IS UNKNOWN TO OWN IT

If we consider that the printing and supply of money is in the hands of the states, the tracking and taxation of virtual currencies and not being able to supply is an application contrary to the idea of ​​the state.. The biggest risk to cryptocurrencies is that the use of these coins is prohibited by states because they are open to black money transactions.. It can experience huge losses in value at once.. In addition, it is very difficult to freeze accounts opened with cryptocurrencies and to confiscate these funds, since it is not known who they belong to and whether they are monitored or evaluated by a central authority.

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