🚀 Turkey's President Erdoğan appoints crypto expert Prof. Fatma Ozkul to the central bank's Monetary Policy Committee! Here's what you need to know:
- Ozkul is a lecturer at Marmara University, focusing on accounting, finance, and auditing, with a special interest in blockchain and digital assets.
- The Committee sets the benchmark interest rate to control inflation; they recently raised it to 42.5% as Turkey's inflation rate hit 61.98% in November.
- Turkey ranks 4th globally in raw crypto transaction volumes, with $170 billion in activity between July 2022 and June 2023.
- Turkish authorities are considering crypto regulations, focusing on licensing and taxation to remove the country from the FATF "grey list."
- Upcoming regulations may include capital adequacy standards, digital security enhancements, and custody services to prevent system misuse.
Stay tuned for more crypto adventures in Turkey! 🇹🇷💰