Turkey Turns Heavily to Cryptocurrencies

Turkish president Recep Tayip Erdogan has given guidelines to people in the ruling party in Turkey to examine the crypto adoption scenario and metaverse possibilities.

The president has stated that “it is a sensitive issue and there is need for study before taking any steps in this direction”. In parallel, a corresponsive forum will be held around the topic in Turkey.

Omar Celik, representative of AKP stated that a process has begun regarding crypto regulation, after president’s urgencies.

We expect to see how the crypto market will evolve in the neighboring country, as inflation have hit all-time high levels and more and more people are turning into cryptos, looking to store some value from their wealth.