Turkey Bans Crypto Payments

Turkey Bans Crypto Payments 101Source: iStock/undefined undefined

Turkey’s central bank banned the use of cryptoassets in payments as they entailed significant risks due to volatile market values, irrevocable transactions and are used in illegal actions, Reuters reported.

Also, the bank said that these assets were “neither subject to any regulation and supervision mechanisms nor a central regulatory authority,” the report said.

(To be updated)
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Updated: 16.04.2021 — 03:00