Blockchain

Turkey’s ruling party holds meeting in Metaverse to discuss crypto regulation

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Turkey’s ruling Ak Party held its first Metaverse meeting on Monday to discuss the upcoming regulation of cryptocurrencies.

The Turkish Grand National Assembly (TBMM) held its first meeting in Metaverse, Cointelegraph Turkey Report. The virtual meeting was attended by TBMM Group Vice Chairman Mahir Ünal and Mustafa Elitaş and Ak Party Vice Chairman responsible for Information and Communication Technology Ömer İleri.

In fact, Elitaş attended the meeting at the parliament building, while Ünal and İleri were at the Ak Party (AKP) headquarters. Ünal told the state-run news agency AA that cryptocurrency regulation was a highlight of the conference, adding that crypto assets require financial and legal oversight.

Mustafa Elitaş, who recently hosted a meeting with representatives of the Turkish crypto ecosystem at TBMM, emphasized that it is impossible to be outside the virtual world. “I believe that metaverse-based meetings will rapidly improve and become an essential part of our lives,” he added.

Elitaş is also expected Meet Binance Turkey on Thursday.As mentioned, Binance Turkey is 8 million Turkish lira fined (approximately $600,000) after failing an oversight anti-money laundering compliance audit.

Turkey has accelerated its metaverse efforts as blockchain technology enables digital ownership, Ömer İleri said. He sees the metaverse as an emerging but rapidly growing field, and he predicts that it could impact many industries in the future.

İleri noted that Metaverse is open to the development of virtual reality, product management and innovative business models, adding that AKP hopes to pave the way for the Metaverse ecosystem.

related: President Erdogan confirms Turkey’s crypto law is ready for parliament

İleri believes that digital and technological advancements have legal, economic and social implications. He concluded that the AKP is working to develop policies on crypto assets and social media to protect citizens while enhancing Turkey’s innovation capabilities.

Although the Turkish government is keen on blockchain technology and Central Bank Digital Currency, Turkish President Recep Tayyip Erdogan with his Harsh stance on cryptocurrenciesIn a public Q&A session last year, he “declared war” on crypto, saying “we have absolutely no intention of embracing cryptocurrencies.”