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Seeking Alpha 2021-04-16 10:14:03

Turkey bans crypto payments, Bitcoin slides but Dogecoin soars

The push and pull between crypto going mainstream continues as Turkey bans crypto payments, saying they may result in "non-recoverable losses" for parties involved in transactions.Bitcoin (BTC-USD) is down 3% and Ethereum (ETH-USD) is off 1%. But Dogecoin is still soaring, up more than 100%.Turkey says its assessment of crypto assets concludes:They "are neither subject to any regulation and supervision mechanisms nor a central regulatory authority."Their "market values can be excessively volatile."They "may be used in illegal actions due to their anonymous structures.""Wallets can be stolen or used unlawfully without the authorization of their holders.""Transactions are irrevocable."The Coinbase (COIN) direct listing has spurred bullishness in the crypto space, but there have been stumbling blocks along the way, including platform outages at Coinbase and Robinhood.HSBC (HSBC) is prohibiting its customers from buying shares of Coinbase as it sticks to a policy of avoiding virtual currencies."HSBC has no appetite for direct exposure to virtual currencies and

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