Turkey’s President Recep Tayyip Erdoğan has confirmed the completion of a cryptocurrency bill that will soon be shared with Parliament for widespread application in the country.
In an effort to counter the falling value of the Turkish lira, President Erdoğan shared plans to implement a new economic model while speaking at a press conference in Istanbul. As reported by local outlet NTV, Erdoğan said that the cryptocurrency bill is ready, adding:
“We will take action on this by sending it to Parliament without delay.”
Acknowledging the recent inflationary episode in the country, Erdoğan said that the currency event is not related to mathematics, but rather a matter of process – implying a possibility and potential for growth in the value of the lira:
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