Urgent: Cryptocurrencies are under pressure… an attack from the president of the largest European country that trades them! by Investing.com

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Investing.com – President Recep Tayyip Erdogan met with young people at the Presidential National Library as part of activities commemorating May 19 known as Atatürk, Youth and Sports Day. In response to the youth’s questions at the meeting, Erdogan also expressed his final thoughts on the issue.

In response to a question about cryptocurrencies, President Recep Tayyip Erdoğan said that he did not favor cryptocurrencies and that the necessary steps would be taken based on the outcome of the parliamentary discussions.

“Our friends continue to work on regulating cryptocurrencies. We will hold debates in Parliament and take steps accordingly. I am not in favor of cryptocurrencies. I think it is not right to take steps with such tools that would make one person rich and another poor.”

President Erdoğan previously said that the government has no intention of opening up to cryptocurrencies, on the contrary, he stated that they are in a struggle against cryptocurrencies.

Cryptocurrency regulations in Turkey, which ranks fourth in the world and first in Europe in the use of cryptocurrencies, is a highly anticipated problem. One of the last concrete steps taken on this topic was the announcement at the beginning of this year of the start of legal regulation work for cryptocurrencies by the Turkish Grand National Assembly.

In the process, AKP officials, who have met with the bodies of major cryptocurrency platforms operating in Turkey and some influential names on Twitter, continue their work to finalize cryptocurrency regulations.

The deputy head of the AKP group, Mustafa Ilyas, who made a statement on the matter at the time, said that their first goal was to provide a legal regulation and not to ban cryptocurrencies and prevent any harm to those who wish to invest their savings in digital assets.

The results of the pilot study of the digital Turkish lira are expected to be announced this year.

On the other hand, in September last year, the Central Bank announced the signing of bilateral memoranda of understanding between the Central Bank of Turkey, Aselsan (IS: ASELS), Havelsan and Tubitak Belgem, and a Turkish Lira digital cooperation platform was established within the scope of cryptocurrency studies.

The Central Bank of Turkey announced that pilot studies on the Central Bank’s digital project will continue throughout 2022 and the results will be announced at the end of the year.

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