Turkey and Iran Take National Cryptocurrency On Their Agenda

After Venezuela’s national cryptocurrency Petro Coin, which was put up for pre-sale on February 20, the governments of Turkey and Iran are also considering developing their own state-backed cryptocurrencies.

From the launch of Petro in Venezuela Days later, on February 21, the Ministry of Information and Communication Technologies of Iran announced that Iran Post Bank is working on the development of a national crypto currency with the following tweet: At the meetings, the measures to be taken to implement the country’s first cloud-based crypto currency were mentioned.”

Last November, the Iranian Cyberspace High Council, consisting of virtual reality experts, welcomed Bitcoin and said that the crypto currency He had stated that they were working with the Central Bank of Iran for a report on the coins.. On February 21, the Central Bank of Iran stated that they are actively working to control and block cryptocurrencies in Iran.

In the news published by the Middle East news agency Al-Monitor on February 22, Turkey’s Ahmet Kenan Tanrıkulu, Deputy Chairman of the Nationalist Movement Party (MHP) and former Minister of Industry, wrote that he is considering the launch of a national cryptocurrency.. Tanrıkulu talks about the coin named “Turkcoin” in his report on cryptocurrency exchange regulations.

Two weeks before Tanrıkulu’s report, Deputy Prime Minister of Turkey Mehmet Şimşek told CNN Türk on February 7 that the government will prepare to issue a digital currency.

Previously, the Turkish government took a harsh action against Bitcoin and crypto exchanges in November 2017, following the comment from the Diyanet deputies that “it is not suitable for Islam due to its speculative nature and the fact that it goes beyond government control”.

However, Tanrıkulu told Al-Monitor that trading is legal since there is no law on cryptocurrencies in Turkey yet:

“As the constitution does not contain a prohibition on the subject, cryptocurrencies can be considered legal […] Cryptocurrency trading and making money from Bitcoin mining are currently not within the scope of criminal activities in Turkey.” He mentions that regulations are absolutely necessary to prevent money laundering and fraud, and that one way is to open a government-controlled Bitcoin exchange. is seen. Iran is likewise facing some international sanctions.

Petro is not the first state-backed cryptocurrency to be launched, and in October 2017, the Dubai government also launched the state-based coin emCash.. In addition, in 2017, the possibility of issuing their own state-backed cryptocurrencies in Japan, Kazakhstan and Estonia was on the agenda.

Cointelegraph

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