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 onramps 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, hacer que cualquier solución y asociación de criptopagos sea ilegal.
The bank stated, Se prohibirá "cualquier uso directo o indirecto de criptoactivos en servicios de pago y emisión de dinero electrónico"..
While banks are excluded from the regulation, lo que significa que los usuarios aún pueden depositar liras turcas en intercambios de cifrado mediante transferencias bancarias desde sus cuentas bancarias, payment providers will be unable to provide deposit or withdrawal services for crypto exchanges.
Payment providers and digital wallets are widely used in Turkey to transfer fiat funds to crypto exchanges and vice versa. Major global exchange Binance partnered with local payment provider Papara when they first entered the Turkish market to provide a lira onramp for several different cryptocurrencies.
This new regulation means that users have two weeks to clear their balances if they exclusively use payment providers as fiat-to-crypto gateways.
Históricamente, the Turkish government has always had a tight grip on the payment ecosystem. En 2016, Turkey banned major global payment provider PayPal in the country.
Crypto regulation is a hot topic for Turkey in recent months. El mes pasado, the Turkish Ministry of Treasury and Finance announced that they are monitoring the crypto ecosystem and working with the Central Bank, Banking Regulation and Supervision Agency, and Capital Markets Board to regulate crypto.
Additional reporting by Cointelegraph Turkey’s Emre Günen.
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