Government response to Bitcoin question paper
Deputy Prime Minister Mehmet Şimşek, on behalf of the government, responded to CHP Niğde Deputy Ömer Fethi Gürer’s question regarding the virtual currency Bitcoin.. Stating that Bitcoin is not accepted as an electronic currency by the BRSA, Şimşek said that they warned that those who trade with cryptocurrencies may face negative consequences.
What does the government think?
CHP Niğde Deputy Ömer Fethi Gürer, In the parliamentary question about Bitcoin, he asked the following questions:
Bitcoin has started to see value as a digital currency used all over the world.. Is it thought that the fact that Bitcoin is not affiliated with any central institution and being an independent crypto money may cause different problems? What is your assessment as the government of the application, which is defined as digital money on the internet and has become widespread? Will arrangements be made against the situation that has no legal basis but has become a virtual entity?
Deputy Prime Minister Mehmet Şimşek, in his response to CHP Niğde Deputy Ömer Fethi Gürer’s motion, said:
Bitcoin is dependent on the cryptographic algorithms used in their creation. It is the first of the systems that operate with distributed ledger and/or blockchain technologies, referred to as cryptocurrencies.. Bitcoin, which emerged in 2008 as a ‘person-to-person electronic money transfer system’ and is stated to aim to ensure that the transfer of value is carried out “safely and quickly” without the need for intermediaries such as banking/payment systems, has spread rapidly on the Internet since this date, and has become increasingly popular. With its rising value, it has caused the emergence of different cryptocurrencies with similar technology and the increase in the usage areas of the chain chain technology. He explained that there is still no consensus at the global level about classifying them as. Deputy Prime Minister Mehmet Şimşek used the following expressions:
Some regulations have been introduced for these technologies in countries such as the USA, China, England, Russia, Germany and Canada.. In these regulations, the mentioned technologies are classified under different headings. These developments in other countries are closely followed by our government.. Our institutions are also working on the possible risks and returns of the technologies in question.
Bitcoin is not electronic money
Deputy Prime Minister Şimşek stated that some initiatives have been taken by the BRSA and CMB:
In the official statement made by the BRSA on 25.11.2013, it was announced that these technologies are not electronic money.. And in this context, it was stated that they are not subject to the Law No. 6493.
Şimşek: “Be careful.”
34 of the Financial Stability Committee. Noting that they evaluated the aforementioned technologies at the meeting, Deputy Prime Minister Şimşek said that care should be taken and said: It was stated that they should be aware that they may encounter negativities when they make transactions.. At the same meeting, it was decided to establish a working group to develop regulations regarding the aforementioned technologies.
Gürer: “Decisions must be clear.”
CHP Niğde Deputy Ömer Fethi Gürer virtual He stated that there were allegations that the money was used for different purposes.. Gürer said that although there are no very negative results for now, it is necessary to be careful for Bitcoin, which cannot be controlled and audited.. CHP deputy Ömer Fethi Gürer noted that it would be better for the government to take controlled and quick decisions rather than making a warning statement on such an important issue.