We know the news is a bit confusing right now.
We know a lot of cryptocurrencies are being withdrawn, so what is happening?
First, Bitcoin is being withdrawn.
It seems that it was announced earlier this week that Bitcoin would be banned in Turkey, which is quite an extreme step, given the cryptocurrency is a safe-haven currency.
The announcement was made by Turkish President Recep Tayyip Erdogan.
Erdogan’s announcement was met with a huge response from the Bitcoin community, including a huge increase in prices.
While it was not the first time Bitcoin has been banned in the country, this time around the country is the first to impose it.
In a tweet sent out by Turkish Minister of Finance Mehmet Sivak, he said, “We are in the process of withdrawing Bitcoin from the country.”
Ethereum was also pulled from the platform, as was Litecoin.
Other cryptocurrencies have also been removed, including Ripple, BitShares, and Monero.
If you want to know more about what is going on with cryptocurrency, we recommend you take a look at the following links.
If you have any questions, feel free to tweet us at @cryptocurrencynews or leave a comment below.