Ömer İleri, the Deputy Chairman of Turkey’s ruling AK Party, has highlighted the upcoming submission of a draft bill on cryptocurrency regulation to the Turkish Parliament following the March 31 Local Administrations General Elections. The regulation is part of a broader commitment to blockchain technology, as emphasized in the country’s Medium-Term Program and the General Election Declaration of 2023.
Aligning with the Public’s Crypto Involvement
The proposed legal framework, according to İleri, will tailor to the rising significance of crypto assets in Turkey, with around 10 million citizens already engaged in the crypto sphere. This regulation aims to reflect public sentiment and foster a supportive environment for the sector’s growth.
İleri stated that the regulation’s primary objective is to establish a legal basis that safeguards citizens and investors, ensuring progress in the industry while imposing adequate protective measures. He outlined the AK Party’s proactive engagement with blockchain and the importance of securing a pioneering position for Turkey in the crypto domain.
Creating a Safe and Growth-Friendly Ecosystem
With a focus on innovation, İleri explained that the regulation would establish crucial definitions and set guidelines for crypto platforms and service providers. He mentioned ongoing consultations with industry stakeholders to gather their input and shape the legislation effectively. The regulation is expected to be a priority post-elections.
İleri also stressed the need for investor security, which encompasses informed decision-making, robust infrastructure, and protection from unwanted risks. The regulation seeks to strike a balance between protecting investments and fostering industry development, ensuring both investor safety and sector growth.
