Omer Ileri, Deputy Chairman of the AK Party, Turkey’s ruling party, responsible for Information and Communication Technologies, spoke about cryptocurrencies.
“We are in contact with the industry, relevant agencies are working on crypto regulation”
Ileri, speaking to to the state-owned news agency AA, especially touched on regulation efforts. Stating that the EU’s crypto law MiCA will enter into force in 2024 and that there is no inclusive practice in the US in the federal scale, Ileri said, “Turkey is one of the countries moving fast in this sense. We started a study in the past years. There is a serious social interest in crypto assets. Here, we have been working to protect our citizens, to ensure the security of our citizens, but on the other hand, to pave the way for the blockchain mentality and not to close the way for it. In this context, we are also in contact with the industry. The relevant agencies are doing their work. This issue will be on the agenda again in the following processes.”
“Blockchain is a technology that extends far beyond crypto assets”
Stating that they come together with the leaders of the industry at events that bring together important organizations in the blockchain world, Ileri said, “They are really happy. This is a field of technology that is more known in our society through crypto assets, but in fact, it is a field of technology go far beyond crypto assets. This is a technological perspective that can transform the world from logistics to health management.”
“A draft law is in the works”
Noting that they are talking about a structure called “decentralized”, which can act entirely on the basis of social trust without any authority, where many processes are accelerated and automated through smart contracts, Ileri said, “They are glad to see that we see how critical this is for Turkey. They tell us that Turkey can play an important role in this sense and that it has serious advantages.”
Explaining that they conveyed their views to the necessary places, Ileri said that these were taken into consideration during the legislative process. Finally, Ileri said that a draft law is being worked on.
Minister Simsek said, “We will introduce it to parliament in a short time”
In recent days, statements from the government and the ruling party wing about the crypto industry have become more frequent. In recent weeks, the Minister of Treasury and Finance Mehmet Şimşek, Turkey’s only subject left to get out of the gray list, he had stated that it was crypto regulation. Şimşek said, “We will submit the regulation to our Parliament as soon as possible.” Central Bank Governor Hafize Gaye Erkan shared that they are working with the Capital Markets Board (CMB) on crypto regulation.
Yesterday, local media reported that the crypto bill is expected to come to parliament before the end of this year.