Turkiye: Turkish Central Bank bans the use of crypto assets in payment
Progress
Current status
in force
30 Apr 2021 in force
16 Apr 2021 adopted
Scope
Implementers
Turkiye
Policy Area
Authorisation, registration and licensing
Policy Instrument
Authorisation of goods or services
Regulated Economic Activity
digital payment provider (incl. cryptocurrencies)
Government Branch
executive
Government Body
central bank
Implementation Level
national
Timeline of events
Implemented ban on crypto assets
On 30 April 2021, the Turkish Central Bank implemented the ban on the use of crypto assets contained in the “Regulation on the Disuse of Crypto Assets in Payments”.
SourceEvent type
order
Action type
implementation
Government branch
executive
Government body
central bank
Announcement of ban on crypto assets
On 16 April 2021, the Turkish Central Bank announced a ban for the use of crypto assets as a means of payment citingy the lack of regulatory supervision as one of several rationale for the decision.
SourceEvent type
order
Action type
adoption
Government branch
executive
Government body
central bank