Consequently, the lira's value has plummeted, with the USD/TRY rate surging beyond 13 for the first time on Tuesday.

For individuals with a BTC allotment, on the other hand, the advantages of hard currency are more apparent than ever before.

Bitcoin/TRY traded at 723,329 lire on Binance Tuesday, the latest in a string of all-time highs.

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Last week, a MicroStrategy CEO declared that "Bitcoin represents hope for Turkey," and he's right.

Nine straight years of declines have taken its toll on the currency's worth." Converting Turkish lira (TRY) to US dollars (USD) would just slow down the collapse, but the adoption of Bitcoin (BTC) will reverse the harm and revive the economy."

Nigeria's Central Bank's Crackdown on P2P Cryptocurrency Transactions Forces Startups to Leave

It's expected that this suspension of activities would begin in the first three months of 2022, citing a report by Cryptoassetbuyer. As a result of this, Kurepay, a blockchain-based software, will begin to focus on OTC and crypto consultancy services at that time.

The CEO of Kurepay, Abikure Tega, has said that Nigeria has had a terrible year for bitcoin acceptance and growth. He retorted, "

Cryptocurrency acceptance and growth have been hampered this year in Nigeria as the CBN has used various tactics to stifle and frustrate Nigeria's expanding participation in the world's fastest-growing sector.

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To make matters worse, several bitcoin firms were forced to close due to CBN restrictions on their ability to conduct banking operations inside the country's financial system. As a result of this blockage, other firms were also obliged to use P2P systems to maintain their operations at a minimum.

As a result of the February 5 instruction from the central bank, Kurepay has had to implement an agency network architecture that allows consumers to deal directly with one other.

After November 2021, however, the CBN has increased its efforts to combat cryptocurrency traders by focusing on P2P platforms and services that let clients purchase and sell crypto.

India's crackdown against cryptocurrency continues, with a ban scheduled for the winter.

India intends to prohibit most crypto assets when it publishes a new law to govern the sector in the coming months.

The "Cryptocurrency and Regulation of Official Digital Currency Bill, 2021" is on the agenda for the meeting. Additionally, the measure lays out the structure for the Reserve Bank of India's official digital currency.

Indian authorities are now aiming to ban the usage of decentralized crypto assets in favour of a state-controlled CBDC.

However, the Bill also intends to restrict all private cryptocurrencies in India but encourages the technology and its usage.

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Legislation dealing with virtual currencies is set to be presented for the second time this year, although it was not introduced in the first half of 2016.

More than half of India's population of 1.4 billion is unbanked. Cryptocurrencies have been more popular in the nation over the last several years, although the state is opposed.

According to Reuters, more than 15 to 20 million people in India are involved in the cryptocurrency business, which is worth an estimated $5.4 billion.

What are your thoughts on the most recent events?