PayPal Leaving Turkey After Row With Regulators

PayPal is leaving Turkey.

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The company announcedtold

"We are sorry to announce that PayPal is suspending its business operations in Turkey," PayPal wrote on its Turkey website. "Effective from June 6, 2016, our customers in Turkey will no longer be able to send or receive funds with PayPal. Customers will still be able to log in to their PayPal accounts and withdraw any balance on their accounts to a Turkish bank account."

PayPal is among many firms facing increasingly onerous policies in Turkey as the local government there tries to take on a larger role in how companies operate within its borders. PayPal told TechCrunch that Turkey is specifically asking technology companies to locate their IT systems in the country, something PayPal has been unwilling to do, in part because it's too expensive.

PayPal is just the latest technology company to face issues in the country. Twitter, Reddit

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PayPal did not immediately respond to a request for comment.

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