Turkey bans cryptocurrency

Turkey’s central bank announced on Friday that it would ban the use of cryptocurrency and cryptoassets to buy goods and services, a week after Turkish authorities asked trading platforms to provide user information.

Turkey bans cryptocurrency

Cryptocurrency and other such digital assets based on distributed ledger technology cannot be used directly or indirectly as payment instruments, the Central Bank of Turkey said in a piece of legislation published in the official gazette.

 

“Payment service providers cannot develop business models by using encrypted assets directly or indirectly to provide payment services and e-money issuance, nor can they provide any services related to such business models,” the bank said.

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