The Financial Coverage Committee of the Central Financial institution of the Republic of Turkey has named Professor Fatma Ozkul, a outstanding specialist in blockchain expertise and crypto property, to the place. This appointment was made by President Recep Tayyip Erdoğan of Turkey. This appointment, which can take impact on December 23, 2023, represents a considerable integration of blockchain and cryptocurrency information throughout the framework of the nation’s financial coverage.
In keeping with President Erdoğan, the hiring of Professor Ozkul is a part of a extra complete plan geared toward reorganizing Turkey’s financial staff. After attaining victory within the basic election held in Could, Erdoğan took the initiative to determine a brand new financial staff. As a part of this course of, he appointed Hafize Gaye Erkan, a former banker at Goldman Sachs, to the place of governor of the central financial institution. This strategic choice is in step with Turkey’s rising emphasis on digital banking, which was proven by the truth that the primary testing of its digital foreign money, the Digital Turkish Lira, was profitable within the 12 months 2022.
Since 2012, Professor Ozkul has been educating accounting, finance, and auditing at Marmara College in Istanbul. His topic areas of experience embrace auditing, accounting, and finance. Blockchain expertise and digital property have been closely included in her tutorial and analysis endeavors, culminating within the launch of a e-book on crypto asset accounting within the 12 months 2022. When Professor Ozkul takes up her new place on the Financial Coverage Committee, she’s going to provide her substantial information and expertise in digital finance to the method of building benchmark rates of interest, which is an important instrument for controlling inflation in Turkey.
The political and financial local weather in Turkey has provided favorable situations for the usage of Bitcoin. Chainalysis, an organization that makes a speciality of blockchain analytics, experiences that Turkey recorded practically 170 billion {dollars} value of cryptocurrency transactions between July 2022 and June 2023, inserting it in fourth place worldwide when it comes to uncooked transaction volumes. Due to the current spike in cryptocurrency exercise, the Turkish authorities is contemplating the opportunity of enacting legal guidelines for the cryptocurrency business, with a specific emphasis on licensing and taxes. The target is to cut back Turkey’s standing on the “gray checklist” maintained by the Monetary Motion Activity Pressure and produce it into conformity with international monetary norms.
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