The Financial Coverage Committee of the Central Financial institution of the Republic of Turkey has named Professor Fatma Ozkul, a distinguished specialist in blockchain know-how and crypto belongings, to the place. This appointment was made by President Recep Tayyip Erdoğan of Turkey. This appointment, which is able to take impact on December 23, 2023, represents a considerable integration of blockchain and cryptocurrency data inside 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 crew. After attaining victory within the common election held in Could, Erdoğan took the initiative to determine a brand new financial crew. 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 consistent with Turkey’s rising emphasis on digital banking, which was proven by the truth that the primary testing of its digital forex, the Digital Turkish Lira, was profitable within the yr 2022.
Since 2012, Professor Ozkul has been educating accounting, finance, and auditing at Marmara College in Istanbul. His topic areas of experience embody auditing, accounting, and finance. Blockchain know-how and digital belongings have been closely included in her tutorial and analysis endeavors, culminating within the launch of a ebook on crypto asset accounting within the yr 2022. When Professor Ozkul takes up her new place on the Financial Coverage Committee, she is going to provide her substantial data and expertise in digital finance to the method of building benchmark rates of interest, which is a necessary instrument for controlling inflation in Turkey.
The political and financial local weather in Turkey has supplied favorable situations for using Bitcoin. Chainalysis, an organization that makes a speciality of blockchain analytics, studies that Turkey recorded almost 170 billion {dollars} price of cryptocurrency transactions between July 2022 and June 2023, inserting it in fourth place worldwide by way of uncooked transaction volumes. Due to the latest spike in cryptocurrency exercise, the Turkish authorities is contemplating the opportunity of enacting legal guidelines for the cryptocurrency trade, with a selected emphasis on licensing and taxes. The target is to scale back Turkey’s standing on the “gray listing” maintained by the Monetary Motion Job Drive and convey it into conformity with world monetary norms.
Picture supply: Shutterstock
