Payment with cryptocurrency banned

According to the regulation published in the official newspaper at night, payment with crypto money is prohibited in our country. The reason for the decision has been announced.

Paying with Crypto Money was banned. As you know, with the rise of Bitcoin all over the world, many sub-coins emerged and this system caused the formation of a large market. We have witnessed new investments and many initiatives in this field so far.

So much so that from time to time we encountered companies that accept payments with crypto money. Tesla was the last to join them and announced that the crypto money system would now be accepted in vehicle sales. Last night, an important regulation to the crypto money system, which is very popular in our country, was indirectly the ban has come.

Cryptocurrency payment ban published in the official newspaper

Payment with cryptocurrency banned

In fact, it has been talked about the future of a regulation regarding cryptocurrencies. But the future of such a ban was not predicted. Because, according to the decision published in the Official Gazette, which will take effect as of April 30, cryptocurrencies will not be used directly or indirectly in payments, and services for the direct or indirect use of these assets in payments will not be allowed.

With the new regulation, “not to use crypto assets in payments, not to use crypto assets directly or indirectly in payment services and issuance of electronic money, payment and electronic money institutions to platforms that offer trading, custody, transfer or issuance services for crypto assets or intermediation of fund transfers from these platforms. It was aimed to determine the procedures and principles regarding the failure to do so. ”

Making a statement on the subject, the Central Bank cited the protection of other payment methods as the reason for the decision. It was stated that such a decision was taken to prevent this situation as it was thought that this new payment system would create distrust in the existing market payment instruments. In the statement made by the Central Bank, “It is evaluated that the use of these assets in payments may cause irreparable unrecoverable grievances for the parties of the transaction due to the aforementioned reasons, and it contains elements that may create a weakness in the methods and tools currently used in this field.” We see that the statements are included.

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