Turkey’s President appoints crypto professor to design crypto regulation framework

Incrypto news, Fatma Ozkul, Featured, Investing, Turkey

Crypto expert Fatma Ozkul joined Turkey’s central bank Monetary Policy Committee.

Turkey is a very big crypto-centric region. The crypto adoption among the citizens is surging rapidly over the years but there is a lack of crypto regulatory rules. So far Turkey has laws to prohibit the misuse of cryptocurrencies as well as tax against crypto investment profit.

On 22 Dec 2023, A presidential decree confirmed that Professor Fatma Ozkul, a lecturer at Istanbul’s Marmara University since 2012, appointed by the president Tayyip.

She joined the country’s central bank Monetary Policy Committee.

Turkey's president has appointed crypto asset professor Fatma Ozkul to the central bank’s rate-setting committee https://t.co/WEB3wvm20t
— Bloomberg Crypto (@crypto) December 23, 2023

Fatma Ozkul is a very big name in Turkey because of her book for Crypto asset accounting published in 2022. Her academic records pushed her expertise in the area of blockchain technology and digital assets.

Notebely Turkey’s president Recep Tayyip Erdogan focussed on the transformation of the country’s economy. After the victory in the election in May, he showed a significant inclination toward monetary policies to give better strength to the economy.

Now the entry of Fatma Ozkul in the monetary policy maker authority is a very big hint that Turkey is going forward to adopt the Crypto and blockchain sector at a better level.

So far the Turkish central bank has shown significant Inclination toward blockchain technology. In 2022, the central bank successfully tested the transactions via digital Lira, a Turkish central bank digital currency (CBDC), or say digital form of sovereign fiat currency Lira.

Before this in Oct of this year, many local media reports confirmed that the country’s president aimed to design a better crypto regulatory framework as well as crypto tax laws, in order to protect crypto investors from the danger of cryptocurrencies investment in unregulated platforms.

According to webtekno, the Turkish government plans to tax cryptocurrencies next year and will complete research to define these assets in the Turkish legal system; it will also conduct regulatory work on cryptocurrency exchanges. The above is shown in the 2024 President's Annual…
— Wu Blockchain (@WuBlockchain) October 26, 2023

In Q1 2023, Turkey faced multiple earthquake attacks and many people lost their lives. At the time, many crypto investors donated cryptocurrencies to provide aid to the affected people.

Binance crypto exchange also donated $100 worth of BNB coin to each Binance customer belonging to the earthquake-affected areas.