The Central Bank of the Republic of Turkey is preparing to launch its own digital currency
Countries related to digital currencies are looking for their own solutions. The US Federal Reserve (Fed) and the European Central Bank have started working to create their own digital currency. Şahap Kavcıoğlu, President of the Central Bank of the Republic of Turkey, announced today that they are preparing to launch their own digital currency.
A few months ago, the Central Bank of the Republic of Turkey temporarily banned the use of cryptocurrencies as payment. But there was no ban on cryptocurrency trading. And the President of the Central Bank of the Republic of Turkey announced that they have started working to make legal arrangements regarding digital currencies. As the first regulation, a license and capital requirement was introduced to crypto exchanges.
Kavcıoğlu, the head of the Central Bank of the Republic of Turkey, said that the legal regulation on crypto markets will be completed by the end of this year. The law to be enacted is expected to include issues related to the trading of cryptocurrencies and digital currency custody of banks and companies. In addition, the content of the law is expected to be in its regulations on crypto payment systems and crypto exchanges. Kavcıoğlu stated that the detailed content of the law will be announced in September and that the law could be enacted by the end of this year.
In addition, the President of the Central Bank of the Republic of Turkey announced that they will launch their own digital currencies in a statement today. He stated that the pilot implementation of the digital currency will start in September. He said that they will make a detailed statement about their own digital currency in September. In addition, Kavcıoğlu said that digital currency studies, which are in the focus of the whole world, are also in the focus of Turkey. He stated that they are working hard on this issue.
Although some countries have made statements that they will ban cryptocurrencies, many countries are working hard to find their own solutions. In fact, there is a fact that they all know, it is very clear that the crypto market will continue to exist, even if there are prohibitions. Everyone knows that it is not possible to have a ban on cryptos. In the future, the whole world will shout this truth. That's why countries are working hard to find their own solutions.
Posted Using LeoFinance Beta