Crypto News – Professor Fatma Ozkul, a specialist in blockchain technology and cryptocurrency assets, has reportedly been named to the central bank’s monetary board by Turkey’s President Recep Tayyip Erdoğan.
Crypto Professor Fatma Ozkul Appointed by the President to the Central Bank Board
On December 22, a decree designating Ozkul was made public. She teaches accounting, finance, and auditing at Marmara University in Istanbul, where she has been a lecturer since 2012. According to her university profile, she has written a book on crypto asset accounting in 2022, and her research interests include blockchain technology and digital assets.
Ozkul joined Turkey’s Monetary Policy Committee, whose main responsibility is to determine the benchmark interest rate in order to keep inflation under control, as its newest member. After Turkey’s inflation rate exceeded 61.98% in November, the Committee decided to hike the country’s interest rate by 2.5 percentage points, to 42.5%, on December 21. Following his victory in May’s general election in Turkey, Erdoğan reportedly assembled a new economic team, including former Goldman Sachs banker Hafize Gaye Erkan as the central bank’s governor.
Turkish Authorities Plan to Create New Regulations for Crypto
The nation’s acceptance of cryptocurrencies has been aided by the economic environment. Turkey is slightly behind the US, India, and the UK in terms of raw cryptocurrency transaction volumes, ranking fourth globally with over $170 billion in activity between July 2022 and June 2023, according to a report by blockchain analytics company Chainalysis.
Turkish authorities are purportedly exploring restrictions for their cryptocurrency industry in reaction to the surge in cryptocurrency transactions, with an emphasis on taxation and licensing, in order to take the nation off the Financial Action Task Force‘s (FATF) “grey list.” Anticipated laws aim to prohibit the misuse of the system by imposing certain licensing criteria.
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