Turkey Prepares Crypto Regulations Amid ‘Disturbing’ Money Outflows


Turkish crypto investors were given a respite of sorts on Friday, with the new Governor of the country’s central bank stating that he would not seek to carry out a total crypto ban – although far-reaching crypto regulations might be unveiled by early May.

The Governor, Şahap Kavcıoğlu, was appointed after the abrupt dismissal of his predecessor last month, and made waves in the crypto world by banning the use of crypto as a form of payment in a move earlier this month. After a decidedly rocky month for crypto in Turkey, investors had been bracing for the worst.

In an interview with a television network, the transcribed highlights of which were published by the newspaper Sözcü, Kavcıoğlu called crypto a “sensitive subject” with “no infrastructure, regulation and control mechanism.”

However, he added that the government “cannot fix” crypto “by just banning it.”

He added,

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