In the midst of high inflation and the devaluation of their national currency, Turkish investors have shown a preference for purchasing digital currencies.
In fact, the ownership rate of virtual currencies among adults in Turkey has risen to 40%.
Reuters has reported that Turkish authorities are exploring ways to legalize the cryptocurrency market while adhering to the standards set by the Financial Action Task Force (FATF).
Bora Erdamar, the head of a blockchain technology research center, has highlighted the importance of implementing licensing for crypto companies.
According to him, it is crucial to establish liquidity and cybersecurity standards, and for the state to regularly monitor the reserves of exchanges and companies offering services for storing and trading digital currencies.
The expert has emphasized that these principles should serve as the foundation for Turkish legislation in regulating the blockchain industry.
