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Governor of the Central Bank of Turkey: There will be no complete ban on digital currencies

The head of the Central Bank of Turkey said that in the next two weeks we will see extensive legislation in the field of digital currencies, adding that there will be no news of a complete ban on these currencies in Turkey.

to the the report “In a recent interview with T‌rat‌:, the Governor of the Central Bank of Turkey, Shahab Kavacoچlu, said:

Nothing can be done by banning digital currencies, and we do not intend to do that.

The talks come as Turkish news agencies announced a ban on the use of digital currencies as a method of payment a few days ago. According to officials, the new laws will be implemented soon. Shortly before the bans were announced, the use of digital currencies in Turkey had risen sharply; The devaluation of the lira is the main reason for this increase in use. On the other hand, the rise in the lira has caused the people of this country and the opposition parties to protest.

Earlier, some employees of two Turkish exchange offices were arrested to investigate the activities of digital currency exchanges in the country.

According to news agencies, Kavacoglu said that the country’s central bank will provide a legal definition of digital currencies and legislation on how these currencies are held by financial institutions and companies operating in the field in the future.

According to the Governor of the Central Bank of Turkey, the laws in this area should solve the problem of large outflows of capital from Turkey. He described the outflow as “alarming”.

Following the news of the ban on digital currencies in Turkey, we saw an increase in sales pressure in the digital currency market. This increase in pressure is significant because investors are concerned about similar actions by other countries.


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