Turkish authorities caution against risks of cryptocurrencies

Turkish Economy Minister Nihat Zeybekci called on citizens to refrain from using cryptocurrencies, the ministry said in a statement.

The minister stressed that there are many reasons that make it necessary to refrain from using cryptocurrencies.

"Cryptocurrencies have no economic basis, and this creates risks in their use," Zeybekci stressed.

Earlier, the Turkish media reported that the Istanbul Stock Exchange may issue its own cryptocurrency named BISTcoin.