Turkey Crypto Ban Causes $56 Billion Market Drop

Reading Time: 2 minutes Turkey has announced a ban of cryptocurrency use in the country Crypto use has surged following three years of inflation The cryptocurrency markets lost $56 billion following a flash crash The cryptocurrency market suffered a $56 billion flash crash today as Turkey responded to a growing currency crisis by banning the digital currencies to which its citizens have been turning in droves. Crypto use in the country had been surging as individuals flee the rapidly devaluing Turkish lira for Bitcoin and other more stable crypto assets, but that lifeline has been taken away as the central bank effectively banned the
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