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Crypto payments banned in Turkey — Is this just the beginning?

Published 04/20/2021, 03:14 AM
Updated 04/20/2021, 08:00 PM
Crypto payments banned in Turkey — Is this just the beginning?
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Buying something with Bitcoin (BTC) in Turkey will soon be illegal, and the topic of crypto payments has become a political debate since the Central Bank of the Republic of Turkey’s April 16 announcement that it will forbid the use of cryptocurrency as a payment method. The regulation, which will go into effect on April 30, also bans the use of digital wallet providers as fiat on-ramps for crypto exchanges.

Cointelegraph Turkey reached out to local blockchain and crypto industry participants for commentary. Ahmet Usta, chief editor of Blockchain Turkey Platform and co-author of Blockchain 101, described Turkey’s first crypto regulation as a “how-not-to-do” rather than a “how-to.” He told Cointelegraph Turkey that the central bank will prohibit two uses:

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