TURKEY’S CENTRAL BANK BANS USE OF BITCOIN
Turkey’s central bank has banned the use of cryptocurrencies to purchase goods and services.
It cited “irrepairable” possible damages and significant risks in such transactions.
In legislation published in the Official Gazette overnight, the Central Bank of Turkey (CBRT) said cryptocurrencies and other such digital assets based on distributed ledger technology could not be used, directly or indirectly, as a means of payment.
“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,” the bank said.
