The Central Bank of the Republic of Turkey has revoked the licenses of four electronic money companies!

Important Regulatory Step from Turkey

The Central Bank of the Republic of Turkey (CBRT) announced the cancellation of operating licenses for four payment and electronic money institutions. This important decision indicates that a new era in Turkey's financial markets has begun.

Cancelled Licenses

According to the decision published in the Official Gazette, the operating licenses of Vizyon Electronic Money Services, BSM Payment Services, Vepara Electronic Money, and the liquidating Mypayz Payment Institution have been canceled. This situation may also impact other electronic money companies operating in the market.

Effects on the Markets

The tightening of financial regulations is regarded as an important development for the future of the crypto and electronic money ecosystem in Turkey.