Turkish President Erdogan will submit encryption law to parliament: report

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Turkish President Recep Tayyip Erdoğan will send an encryption law to the country’s parliament. Two European publications, ABC Gazetesi and Daily Sabbah reported on Friday.

  • According to ABC Gazetesi, Erdogan told reporters in Istanbul: “The law is ready and we will send it to the parliament as soon as possible.”
  • Bitcoin and other cryptocurrencies have grown getting more popular In Turkey, the inflation rate Soar And the currency of this country, the lira, hit Earlier this year, the exchange rate against the US dollar hit a record low. Many consumers see encryption as a way to circumvent these problems.
  • But more and more have accepted the challenge of the authoritarian Erdogan, he has been seeking to strengthen the lira and support Turkey’s troubled economy. In April, the Turkish Central Bank stated prohibit Use cryptocurrency for payment, although it is still legal to hold cryptocurrency in the country.
  • At that time, the Governor of the Turkish Central Bank Şahap Kavcıoğlu Say According to the pro-government Daily Sabbah, the country’s Ministry of Finance is formulating cryptocurrency regulations but does not intend to ban them.
  • lira Rose On Tuesday, the day after Erdogan announced measures to protect lira deposits, the figure was about 20%.

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