Comprehensive Cryptocurrency Report from Parliament: Used Everywhere

One of the most discussed investment instruments of recent years cryptocurrencieshas been on Turkey’s agenda for a while. You will have those who remember; A long time ago, President Erdoğan gave a law on cryptocurrencies and the government officials started to work in line with this instruction. However, to date, notable an official development did not happen.

Now, there has been a remarkable development regarding Turkey’s crypto money law. Parliamentary Research Services Presidency “Country Examples of Regulatory Regulations Regarding Crypto Assets“. This 68-page report covers the approaches of other countries to cryptocurrencies. Come together, this details in the report. Let’s take a closer look.

“3 trillion dollar market. Used everywhere…”

In the report prepared in the Turkish Grand National Assembly, it is stated that the crypto money markets had a volume of only 14 billion dollars in 2016, and this width is today. reached $3 trillion expressed. Referring to the fact that cryptocurrencies can be used in almost every field such as education, art, entertainment and shopping today, officials stated that there is confusion about countries. In the report, “For example, while some countries such as the USA, Germany, Japan and Canada approach crypto assets positively, some countries such as China, Bolivia and Nepal approach negatively. In addition, it is known that the attitudes of countries change over time.” with “While initially positive, China banned most crypto-asset-related activities in 2021. The USA, on the other hand, had a questioning attitude at first, but in recent years the most positive became one of the countriesphrases such as “

One of the important issues in the report was the attitudes within the countries themselves. At this point Officials giving the example of Russiastated that the Central Bank of Russia and the Ministry of Finance of Russia were discussing about crypto money and could not reach a common decision. In the statements made on this subject, “In February 2022, the Central Bank of Russia made an opinion on the banning of crypto assets, while the Russian Ministry of Finance stated that crypto assets are an important investment pool, and legal regulation should be made that foresees the release of crypto mining. When the discussion was transferred to the Presidency of Russia, it was necessary to reach consensus among institutions and to benefit from crypto technology. should be used specified.‘ it was said.

“Crypto asset subject; being an extremely technical issue, public institutions in this field be considered an expert Due to the lack of personnel and the fact that parliaments are not experienced in this area, legal regulations in this area bring along a learning process for most country parliaments. Parliaments need experts to make sound regulations. went to information is seen.In the report, in which the expressions “” were used, it was stated that the countries left the regulations on cryptocurrencies to time.

One of the issues emphasized in the TGNA’s crypto money report was about information pollution. According to the report, the mainstream media is at the point of crypto money laws. to information pollution it causes. There are several reasons for this. Statement on this issue in the Country Examples of Legal Regulations Regarding Crypto Assets: “Due to the fact that both the mainstream media and the crypto market are susceptible to manipulation on a global scale, consciouslyIt is seen that both the media and the media have unconsciously announced their legal regulations incorrectly due to their unfamiliarity with the subject.