Turkiye: Adopted and Implemented Regulation on Payment Services and Electronic Money Issuance
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Description
Adopted and Implemented Regulation on Payment Services and Electronic Money Issuance
On 1 December 2021, the "Regulation on Payment Services and Electronic Money Issuance" was published and implemented. The regulation standardises processes concerning electronic transactions and the issuance of electronic money. The definition of electronic money is based on fiat currencies and thus excludes cryptocurrencies, which will not be accepted as legal tender.
Original sourceScope
Policy Area
Other operating conditions
Policy Instrument
Authorisation of goods or services
Regulated Economic Activity
digital payment provider (incl. cryptocurrencies)
Implementation Level
national
Government Branch
executive
Government Body
central government
Key regulatory dimensions
Regulated subjects
The businesses, government agencies or individuals affected by this policy or regulatory change.
producer / supplier
1
Type
Private organisation
Economic activity
digital payment provider (incl. cryptocurrencies)
Category
All
Policy change by business practice
The detailed activities within the scope of this policy or regulatory change.
financial asset (any type): hosting (any form)
Regulatory tool
Registration requirement
Definition of oversight agency jurisdiction
Sanctions
Regulated subjects
1
cryptoasset: currency: hosting (any form)
Regulatory tool
Registration requirement
Definition of oversight agency jurisdiction
Sanctions
Regulated subjects
1