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4/16/2021 10:55:23 AM GMT
Turkey s central bank is also banning payment providers from offering fiat-to-crypto on ramps 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 providing fiat on ramps for 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 services and electronic money issuance” will be forbidden.
While banks are excluded from the regulation, which means users can still deposit Turkish lira on crypto exchanges using wire transfers from their bank accounts, payment providers will be unable to provide deposit or withdrawal services for crypto exchanges.