From April 30, the Central Bank of the Turkish Republic introduces a complete ban on the use of cryptocurrency for payment transactions.
The regulator statement states that suppliers of goods, works and services cannot apply business models in which cryptoacivities are directly or indirectly involved. These measures apply to all companies without exception.
Turkey decided to introduce a ban against the background of a strengthening currency crisis in the country. According to the Central Bank, the use of cryptocurrency is associated with serious risks due to the instability of their course, the impossibility of the abolition of transactions, the lack of regulation by the central authorities and anonymity attracting the shadow sector of the economy.
Despite the prohibition of the use of cryptocurrency for payment, the Turks will still be able to trade and store it as a means of saving cost. However, due to restrictions, the exchange may arise difficulties with the exchange of digital assets to Fiat.
The current policy of Turkey on this issue is divided into the views of the European Union, which intends
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