Turkey Central Bank issued a legislative ban on the use of cryptocurrency in financial calculations directly or through intermediaries. The relevant regulatory rules are published in the official government messenger RESMî GAZETE, reports TASS.
The prohibition comes into force on April 30 of the current year. It concerns any operations with cryptocurrencies in settlements between citizens and organizations. Cryptovaluats in Turkey formally cease to be an affordable payment facility between counterparties through intermediaries or directly to buy goods and services.
The essence of the rules entrusted is that officially registered and licensed financial platforms, services and payment systems in Turkey, working or having the opportunity to work with cryptocurrency, are deprived of the right to provide any services on settlement operations with them – the transfer of funds between wallets or Their conclusion in Fiat. At the moment, it is not clear whether banks or the Central Bank or the Central Bank itself will officially provide such services instead of independent services.
The Central Bank at the current stage will not serve, ensure, regulate the execution of cryptocurrency transactions. The Central Bank noted that such transactions bear serious risks for Contracting Parties, including due to the lack of any effective control by the official regulators.