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Sunday, 16 May 2021 12:44 GMT

Turkey: Central Bank to outlaw use of cryptos in expenses


( MENAFN )The Turkish Central Bank will forbid the expenditure of crypto assets in payments as they involve important dangers for the parties to the deals.
The Official Gazette stated on Friday, April 16, that payment and electronic money organizations will not be able to arbitrate platforms that provide trading, custody, transfer, or issuance services for crypto assets as well mediating finance transfers from them.
The guideline will come into force as of April 30, it added.
Unconnectedly, the bank advised of the dangers of crypto assets such as not being subject to any rule or supervision mechanisms or a central rigid authority, very volatilely, and possibly being used in unlawful actions because of their unidentified structures.


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