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Turkish president says cryptocurrency law ready

Turkish president says cryptocurrency law ready

At a meeting with economists and business leaders at Dolmabahce Palace, Turkish President Recep Tayyip Erdogan said that a bill regulating cryptocurrencies is ready, reports U.today.

The law on cryptocurrencies will be sent to the Turkish Parliament “without delay”according to Erdogan. In July, former Deputy Finance Minister Sakir Erkan Gul, who was fired by the president earlier this month, told local media that Turkish regulations would be consistent with those used in the U.S. and Western European countries. The cryptocurrency law would define different types of digital assets and introduce measures to protect investors. Turkey's central bank published a regulation banning the use of cryptocurrencies as a means of payment back in April. In September, Erdogan said Turkey was “at war”with cryptocurrency. The unflattering remark caused a stir in the local cryptocurrency community, and then became a cause for gloating amid the fall of the lira.

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