Turkey’s central bank on Friday prohibited the use of cryptocurrencies such as bitcoin for purchases, citing transaction risks.
The ban will be effective as of April 30, the central bank said in legislation published in the Official Gazette.
The new regulation prohibits transfers of cryptocurrencies for purchases or services.
The central bank said the ban was needed because of “significant risks” associated with cryptocurrencies.
These risks include a lack of regulation and supervision, “non-recoverable” losses for the parties to the transactions and possible use for…
