Turkey to ban cryptocurrency payments
Turkey's central bank is also banning payment providers from offering fiat-to-crypto onramps for cryptocurrency exchanges. A new ban in Turkey will prohibit crypto holders from using their digital assets for payments, in addition to preventing payment providers from adding funds to their digital wallets at crypto exchanges.According to a Friday announcement by the Central Bank of the Republic of Turkey, the ban will come into effect on April 30, rendering any crypto payments solutions and partnerships illegal.The bank stated, “any direct or indirect usage of crypto assets in payment....
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The Central Bank of the Republic of Turkey has instituted a ban on cryptocurrency payments, as its own fiat currency is devalued.
The Central bank of the Republic of Turkey has issued a cryptocurrency regulation prohibiting the use of cryptocurrencies for payments of goods and services. From the end of this month, crypto assets cannot be used directly or indirectly as a means of payment in the country and no service can be provided for this purpose. Turkish Central Bank Prohibits Crypto Use for Payments of Goods and Services The Turkish central bank (also known as CBRT or TCMB) has issued “Regulation on the Disuse of Crypto Assets in Payments.” It was published Friday in the official newspaper of the....
Would you believe it if someone tells you that the most advanced countries in the world are the ones that adopt new technologies sooner than the rest? If you did, then you might be wrong with a few things, especially mobile banking and Bitcoin adoption. Let's take Turkey for example. ING, the Dutch multinational banking and financial services company recently published a report titled "ING International Survey - The rise of mobile banking and the changing face of payments in the digital age" . The survey was conducted by ING along with Ipsos to understand the behavior of its existing and....
With the recent popularity of Binance in Turkey, scammers have been finding ways to cash in on this new trend. Fake billboards are spotted all over town advertising bogus opportunities themed after the popular cryptocurrency exchange. The Binance TR team has sounded the alarm about a scam attempt targeting crypto investors in Turkey. The fake […]
Turkey’s vibrant ecosystem took a hit from the new crypto payments ban, and industry participants speak out on potential implications. Buying something with Bitcoin (BTC) in Turkey will soon be illegal, and the topic of crypto payments has become a political debate since the Central Bank of the Republic of Turkey’s April 16 announcement that it will forbid the use of cryptocurrency as a payment method. The regulation, which will go into effect on April 30, also bans the use of digital wallet providers as fiat on-ramps for crypto exchanges.Cointelegraph Turkey reached out to local....