Turkey Bans Bitcoin Payments as Lira Crashes

Turkey has instituted a ban on all cryptocurrency payments as its own fiat currency, the lira, is failing. The ban is said to commence at the end of April.

“Payment service providers cannot develop business models in a way that crypto assets are used directly or indirectly in the provision of payment services and electronic money issuance, and cannot provide any services related to such business models,” per the new regulations from the Central Bank of the Republic of Turkey (CBRT), as reported by MarketWatch. 

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