Turkish Government Freezes Over 3 Million Bank Accounts

Hundreds of thousands of businesses and individuals with tax obligations to the Turkish state have received foreclosure notices this week informing them about their frozen bank accounts. The government of Turkey, which is struggling with financial and economic problems under geopolitical pressure, is likely to push even more of its citizens towards cryptocurrencies with the move that comes instead of the promised help to restructure the debt.

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Millions of Taxpayers Receive Foreclosure Notices

Around 2.5 million taxpayers who have not been able to pay their debts and another 800,000 companies and persons owing money for social security expenses have received the notices on Monday, Turkish outlet Sözcü Gazetesi reported quoting the tax expert Nedim Türkmen. The total debt of both groups amounts to 150 billion Turkish lira (over $26 billion). According to the publication, all…