Turkish cryptocurrency investors have been on edge regarding the anticipated legislation in January, fearing the restrictive nature of the 2021 draft influenced by domestic players, which could potentially end the crypto sphere in Turkey.
However, a piece of encouraging news arrived in the early hours when Prof. Fatma Özkul was appointed to the Central Bank of the Republic of Turkey’s Monetary Policy Committee by presidential decree. What’s exciting is her expertise and deep understanding of the crypto industry.
Özkul, an award-winning author for her book on crypto asset accounting, advocates for a nuanced approach to cryptocurrencies, recognizing that existing accounting standards, whether national or international, do not fully address the unique nature of crypto assets.
She has also criticized the rigid stance of banks towards cryptocurrencies, highlighting the contradiction in the UK’s position post-SVB crisis, where banks are reluctant to open accounts for crypto ventures despite previous ambitions to make the country a global hub for crypto asset technology.
Özkul believes in the benefits that cryptocurrencies can bring, including their potential to change our perspective on investment and ownership through the tokenization of digital and physical world assets, as seen with the rise of NFTs.
In summary, Prof. Fatma Özkul is one of the best-suited figures to play a role in the regulation process of cryptocurrencies in Turkey, being well-aware of the industry’s potential and possibly becoming a hero for Turkish crypto investors.