Turkey President Recep Erdogan Names Crypto Expert To Central Bank MPC
Turkey’s President Recep Tayyip Erdogan has appointed Prof. Dr. Fatma Ozkul, a crypto and blockchain expert, to the Monetary Policy Committee (MPC) of the Central Bank of the Republic of Turkey. This appointment was officially announced in the Official Gazette of the Republic of Türkiye.
Prof. Dr. Fatma Ozkul’s Background
Prof. Dr. Fatma Ozkul is a faculty member at Marmara University Faculty of Business Administration, Department of Accounting and Finance. She has extensive experience in the fields of accounting and auditing and has published several academic papers. Additionally, she serves as an advisory board member at the BlockchainIST Center.
Author and Award-Winning Crypto Book
Prof. Dr. Fatma Ozkul is also an author and has written books on various topics, including fraud risk management in businesses, accounting practices in retail businesses, and crypto asset accounting. Her book on crypto asset accounting received the prestigious “best finance and economics book of the year” award in 2023.
Economic Management Team Changes
President Erdogan made changes to the economic management team after his election victory in May. He appointed Hafize Gaye Erkan, a former Goldman Sachs Group Inc. banker, as the Governor of the central bank. The central bank has been tightening its monetary policy by raising policy rates to combat high inflation.
Regulating Crypto Market
The Turkish government is actively working on regulations for the crypto market as crypto trading gains momentum amidst high inflation. The focus of these regulations is expected to be on licensing and taxation. The government plans to introduce a draft law to regulate crypto assets in the coming year.
Seeking Removal from FATF Gray List
Turkey, the fourth-largest country in crypto trading, is actively seeking ways to be removed from the Financial Action Task Force (FATF) gray list. This demonstrates the country’s commitment to implementing effective measures to prevent money laundering and terrorist financing.
Hot Take: Turkey Embraces Crypto Expertise
Turkey’s appointment of Prof. Dr. Fatma Ozkul as a member of the Central Bank’s Monetary Policy Committee reflects the country’s recognition of the importance of crypto and blockchain technology. This move highlights Turkey’s efforts to regulate the crypto market while leveraging expert knowledge in the field. With an active focus on combating inflation and seeking removal from international gray lists, Turkey is positioning itself as a key player in the global crypto landscape.
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