Turkey Bans Cryptocurrencies For Payment

Crypto is not allowed anymore.

This will soon be implemented by the government of Turkey on April 30th.

According to the official newspaper of Turkish government, the Resmi Gazete, cryptocurrency payments for goods and services will be considered illegal.

Cryptocurrencies and other digital assets based on distributed ledger technology could not be used, directly or indirectly, to pay for goods and services in aims to protect consumers against volatility and illegal activity, said the bank.

This move will dampen the boom of digital money space in the country that seeks to find alternative ways to hedge against the fluctuating lira.

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