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, het illegaal maken van crypto-betalingsoplossingen en partnerschappen.
The bank stated, "Elk direct of indirect gebruik van crypto-activa bij betalingsdiensten en de uitgifte van elektronisch geld" wordt verboden.
While banks are excluded from the regulation, wat betekent dat gebruikers nog steeds Turkse lira kunnen storten op crypto-uitwisselingen met behulp van bankoverschrijvingen vanaf hun bankrekeningen, 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.
Historisch gezien, the Turkish government has always had a tight grip on the payment ecosystem. In 2016, Turkey banned major global payment provider PayPal in the country.
Crypto regulation is a hot topic for Turkey in recent months. Vorige maand, 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.
Laten we advertenties blokkeren! (Waarom?)