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tim333
on April 16, 2021
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Turkey bans use of cryptocurrencies for payments
Lots of 3rd world countries allow tourists to change hard currency to local money but not the other way around.
It seldom works very well though in terms of bringing prosperity to the country.
dirktheman
on April 16, 2021
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Yes, it usually ends up with a shadow economy where everybody just uses foreign currency for all things that don't concern the government.
tim333
on April 16, 2021
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It also puts off and foreign investors, makes it hard for local businesses to import stuff they need. And leads to corruption if you can only change local to foreign if you get a permit from the ministry run by the presidents nephew etc.
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It seldom works very well though in terms of bringing prosperity to the country.