A positive ruling could pave the way for new business models in Turkey, particularly for crypto exchanges seeking licenses.
Turkish law firm GlobalB is challenging the country’s ban on crypto payments in a hearing scheduled for May 28, according to Sima Baktaş, the firm’s founding partner.
Although Turkey’s citizens are allowed to buy, hold and trade crypto, the use of the digital currency for payments has been banned since 2021, when the Central Bank of the Republic of Turkey prohibited “any direct or indirect usage of crypto assets in payment services and electronic money issuance.”
For the hearing, which is taking place in the country’s capital, Ankara, GlobalB plans to use a strategy to show the long-term economic benefits of allowing crypto payments in the country, Baktaş told Cointelegraph.
