Turkey Prepares Regulatory Package for Crypto Industry to Protect Consumers and Foster Innovation

According to CoinDesk, Turkey is working on a regulatory package for the cryptocurrency industry, aiming to protect consumers while fostering innovation in the sector. Ömer İleri, deputy chairman for the ruling AK Party, stated that the primary goal of the planned rules is to ensure consumer protection while supporting innovation. İleri, who oversees Information and Communication Technologies for the AK Party, met with crypto industry representatives, legal experts, and members of the media to discuss the legislative package. İleri mentioned that Turkey has ambitious plans for various tech fields, including blockchain and artificial intelligence. He cited initiatives like Blockchain Istanbul and Forum Metaverse by President Recep Tayyip Erdoğan's administration as examples of the government's interest in the blockchain space. In January, Finance Minister Mehmet Şimşek announced that the government was close to completing technical studies for a crypto legislative package. İleri emphasized the importance of conducting a 'legal study' of crypto assets for consumer protection and promoting innovation in the space.