The Central Bank of Turkey (CBRT) has banned the use of cryptocurrencies and crypto assets to purchase goods and services, warning of significant risks in such transactions. The legislation comes into effect on April 30. The regulator said in a statement published in the Official Gazette that cryptocurrencies and other such digital assets based on distributed ledger technology could not be used, either directly or indirectly, as an instrument 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 m
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