The purpose of the published Regulation is stated as not to use Cryptoassets, which have become widespread especially in recent years, in payments, in the provision of payment services and in payment and issuance of electronic money, directly or indirectly; and the determination of the principles for payment and electronic money institutions not to intermediate platforms that offer trading, custody, transfer or issuance services for crypto assets or regarding the non-mediation of fund transfers from these platforms.
In accordance with this Regulation, "Cryptoasset" is defined as intangible assets that are created virtually using distributed ledger technology or a similar technology and distributed over digital networks, but are not qualified as credit money, fiduciary money, electronic money, payment instrument, security or other capital market instrument, and it is clearly regulated that cryptoassets cannot be used directly or indirectly in payments and that services for this cannot be provided.
It has been stated that payment service providers cannot develop business models that enable the use of cryptoassets in the provision of payment services and electronic money issuance and cannot provide any services related to such business models; and it is regulated that they cannot mediate the platforms that offer trading, custody, transfer or issuance services regarding cryptoassets or the fund transfers to be made from these platforms.
This aforementioned Regulation will enter into force as of 30.04.2021.