New regulation for cryptocurrencies on the way

New regulation for cryptocurrencies on the way


Cemil Ertem, Chief Advisor to the Presidency and a member of the Economic Policies Board, stated that new regulations will be made on the use of cryptocurrencies and that the relevant units are working for the necessary preparations.

Responding to Reuters’ questions, Cemil Ertem said the following on the subject; “The Central Bank has taken an important step today. The CBRT banned the general equivalent function of cryptocurrencies, which is very well placed. Cryptocurrencies are a decentralized savings tool. Therefore, Turkey and regulations in the world has not yet said or missing. Therefore, using these systems as a currency; It can cause irreparable damage to institutions and individuals. “

Cemil Ertem, Chief Advisor to the Presidency and a member of the Economic Policies Board, continued his speech as follows; “Relevant units on this issue are making preparations for regulations within the scope of the reform program”

As it is known, before the crypto-currency in Turkey no controls were not applied. Also recently The use of cryptocurrencies such as Bitcoin for shopping is prohibited.

With the first restrictive regulation implemented, the fields of activity where crypto assets are used were also limited.

Current Official newspaperWhile the use of cryptocurrencies and assets using distributed ledger technology in payments is prohibited in the regulation published in Turkey, global cryptocurrency prices have declined due to concerns that other countries may impose similar restrictions.

Crypto assets to be made directly or indirectly in payments 30. Aprilwill not be allowed as of.


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