Turkey bans cryptocurrency payments

Turkey will ban citizens and businesses from using cryptocurrencies as payment for goods and services.

According to the central bank's decision, Turkish citizens are prohibited from directly or indirectly using cryptocurrency for their purchases. 

The restrictions will be introduced from April 30, according to the decree published in the Official Gazette:

Institutions dealing with payments and electronicmoney will not be able to act as an intermediary between platforms offering services for trading, storing, transferring or issuing cryptoassets or money transfers from these platforms.

Trading on crypto-exchanges has not yet been banned by the regulator.

Meanwhile, Turkey is seeing a surge in demandfor Bitcoin and other cryptocurrencies after the fall of the national currency. Inflation in Turkey accelerated to 16.2 percent in March from 15.6 percent in February, further reducing the value of the lira. 

Subscribe to ForkNews on Telegram to stay updated on news from the world of cryptocurrencies