According to Turkish newspaper “al-Monitor,” the Deputy Chairman of the nationalist movement Party of Turkey Ahmet Kenan Tanrikulu and former Minister of industry has prepared a document, which proposes to create a cryptocurrency that is supported by the state, which will be called “Turkcoin”.

Technical features of the project remain unclear. The authors of the project argue that Turkcoin will be a token based on the securities and that, in their opinion, is less risky than existing cryptocurrencies.

Among the securities which could be represented by a token referred to major Turkish companies such as Turkish Airlines, the Istanbul stock exchange and Turk Telekom.

The world is moving towards a new digital system. Turkey needs to create its own digital system and the currency until it is too late.

The policy also called for clearer regulation of cryptocurrency and tighter control over this market in the country. Ahmet Kenan Tanrikulu argues that the absence of a legal framework in respect of cryptocurrency in Turkey may lead to their illegal use.

The introduction of stimulating the development of regulatory norms, after assessing all types of risk will enable us to profit from the cryptocurrency market. In this context, the country needs a bitcoin exchange and the legislation governing this area.

A few weeks ago the Deputy Prime Minister of Turkey said during an interview with CNN Turkey that his government would seek to launch a national cryptocurrency.

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