President Erdogan confirmed that Turkey’s encryption law is ready to be submitted to Parliament


According to reports, Turkish President Recep Tayyip Erdoğan (Recep Tayyip Erdoğan) has confirmed the completion of a draft encryption law, which will soon be shared with parliament for mainstream implementation in the country.

In response to the devaluation of the Turkish lira, President Erdogan shared a plan to implement the new economic model in a speech at a press conference in Istanbul.As Report Erdogan stated through local media NTV that the cryptocurrency bill is ready and added:

“We will take measures on this issue and send it to Parliament immediately.”

Erdogan acknowledged the recent inflation event in the country, stating that the currency event has nothing to do with mathematics, but a process problem-implying the possibility and potential of the increase in the value of the lira:

“With this understanding, we intend to direct it to a dry place. But the exchange rate will find its own price in the market.”

With the introduction of the new encryption law, the President hopes that Turkey will become one of the top ten economies in the world. Speaking of rising prices in the region, he shared a plan to track people who change the label of the price list organizer multiple times a day. “We hope they will reduce the dollar’s rise now,” he concluded.

related: As the fiat currency lira enters a state of free fall, Bitcoin hits a record high in Turkey

On November 23, Turkish Bitcoin holders avoided an accelerated currency collapse because the lira fell 15% against the U.S. dollar in one day.

BTC/TRY 1-day candlestick chart (Binance). Source: TradingView

As Cointelegraph reported, the fall in fiat currencies caused Bitcoin (Bitcoin) Set an all-time high against the Turkish Lira. The BTC/TRY trading pair reached 723,329 Turkish Lira on Binance.