More detail on Turkey banning Bitcoin, other cryptocurrency for payments

More detail on Turkey banning Bitcoin, other cryptocurrency for payments

Turkish media have more on the story posted here (its in Turkish … if not fluent in the language an online translation may be of assistance).
  • Payment service providers will not be able to develop business models in a way that crypto assets are used directly or indirectly in the provision of payment services and electronic money issuance, and will not be able to provide any services related to such business models. 
  • Payment and electronic money institutions will not be able to intermediate the platforms that offer trading, custody, transfer or issuance services for crypto assets or fund transfers from these platforms.
  • will come into effect on April 30

Meanwhile, the rally in DOGE is not showing much of a sign of halting:

The headline is here from earlier: Turkey has banned the use of cryptocurrencies to purchase goods and services

Invest in yourself. See our forex education hub.

About Author

Related posts