The vice-chairman of the Nationalist Movement Party of Turkey and the former industry minister Ahmet Kenan Tanrikulu prepared the report in which suggested to create the national Turkcoin cryptocurrency.
“The world moves towards new digital system. Turkey needs to create own digital system and currency before it’s too late.”
— Tanrikulu noted.
Technical details of the project aren’t disclosed yet, but, according to the official, the main task of Turkcoin — to tokenize the securities supported with real assets. Tanrikulu is sure that such approach will reduce the risks, usually connected with digital money.
The report said that the basket of assets had to be created on the basis of the large public companies of the country, including Turkish Airlines, Istanbul Stock Exchange and Turk Telekom.
Besides, the official suggests to finish the existing laws so that the regulation of cryptocurrencies became more transparent and accurate. According to Tanrikulu, the lack of standard and legal base for cryptocurrencies in Turkey, creates the fertile field for illegal activity.
“Introduction of rules after assessment of all types of risks would allow us to gain income from the cryptocurrency market, especially from Bitcoin. Now, it’s important to establish the bitcoin exchange in the country and the legislation which will regulate this sphere.”
— the official added.