Other jurisdictions have attempted to active role in working with financial institutions to help identify and their issues, currently known considered commodities.
DeFi is the permissionless decentralization version of various traditional financial instruments with a focus on exchanging assets, lending and borrowing and the creation of synthetic assets. Retrieved 14 June Not considered currency In October , the Central Bank of Costa Rica issued a statement that Bitcoin and cryptocurrencies are not considered currencies, are not backed by law, and cannot be traded on Costa Rica's national payment system. On 16 April , Central Bank of the Republic of Turkey issued a regulation banning the use of cryptocurrencies including bitcoin and other such digital assets based on distributed ledger technology, directly or indirectly, to pay for goods and services, citing possible "irreparable" damage and transaction risks starting 30 April Dealers in digital currency are regulated as money services businesses.
