Turkey Is Getting Prepared to Regulate Cryptocurrencies

The Minister of Industry and Technology of Turkey, Mustafa Varank, revealed that Turkey may start regulating cryptocurrencies soon. Varank used to be a Bitcoin skeptic and thought of it as a tool for criminal affairs. Fortunately, now he changed his mind about digital money and revealed it in his interview for Bloomberg.

The minister still believes that cryptocurrencies allow financial crimes to happen, therefore, they need to be properly regulated by law. He insists on the need of supervising the digital finance space. 

He seems to be serious about it; earlier, the Turkish Ministry of Treasury and Finance announced that they are working together with the central bank and the banking regulator to create a legal framework for cryptocurrencies. Varank believes that all the developed countries will introduce one eventually. They have a lot of work to do, but this work has already started.

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