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Sponsorship payments under pressure as Bitci ‘hit by Turkish controls’

(Photo by Fran Santiago/Getty Images)

Turkish blockchain company Bitci is thought to have requested payment delays in some of its deals with sports rights-holders and has paused fan token issues because of growing cryptocurrency regulations imposed by the Turkish government.

According to 2Playbook, the company has begun to delay first payments to some entities and frozen all fan token issues. Bitci reportedly said that a ban on international cryptocurrency transfers is behind the delays, however the prospect of further Turkish regulation threatens to limit its activity.

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