Prof. Dr. Özgür Demirtaş has indicated that a comprehensive Crypto Law is expected to be enacted in Turkey by early 2024, marking an exciting development for the country. He emphasizes the need for a liberal and inclusive approach to maximize the potential of the emerging Blockchain sector. Demirtaş foresees transformative advancements in the industry, highlighting the pool of talented software developers in Turkey.
Demirtaş underscores the importance of drafting a Crypto Law that promotes innovation and growth rather than imposing bans. Turkey possesses a highly skilled workforce of software developers ready to make significant contributions to the Blockchain field. The proposed legislation should avoid unnecessary restrictions to maintain Turkey as an attractive hub for Blockchain engineers.
Advocating for a collaborative effort among the government, lawmakers, and industry leaders in formulating Turkey’s Crypto Law, Demirtaş calls for a liberal approach that steers clear of prohibitive measures. Such legislation could position Turkey as a global powerhouse in the Blockchain arena.
The influx of Blockchain engineers and investments could herald a new era of economic prosperity for the country, potentially bringing in billions of additional dollars. As the regulatory environment takes shape, Turkey is poised to emerge as a leader in the evolving world of cryptocurrency and Blockchain technology.
Demirtaş warns that banning everything except domestic exchanges could lead to billions of dollars fleeing Turkey. Instead, he suggests regulations that would encourage Blockchain engineers to come to Turkey, potentially bringing in additional billions of dollars.
Recently, Tansel Kaya commented on the global developments in cryptocurrency, suggesting that the risks associated with Bitcoin (BTC) would diminish. He pointed out the illogical distinction between domestic and foreign exchanges, noting that many exchanges get their order books from abroad. Kaya hinted that exchanges might be allowed to import crypto, enabling local exchanges to purchase cryptocurrencies rather than individuals.