The Law Is Coming: Turkish Cryptocurrency Peak Gathers!

Studies on crypto money, which attracts heavy attention in Turkey, continue. According to the latest developments, within the framework of these studies, the issue of cryptocurrencies will be discussed. On November 3, 1.d’konomi Digital Currency Hill will take place in Ankara. Here are the details…

Institutions to discuss cryptocurrencies

Valuable names from the Ministry of Treasury and Finance, the Central Bank of the Republic of Turkey (CBRT), the Ministry of Transport and Infrastructure, the Information Technologies and Connection Authority (BTK) and the Capital Markets Board (SPK) will attend the 1st d’konomi Digital Currency Summit. At the summit, there will be conversations about the digital Turkish lira and cryptocurrencies in general. In particular, there will be discussions about regulations in this area. Improvements to regulations will be discussed. In addition, it will be discussed what to do to minimize the negative prices of the crypto money market in Turkey.

Apart from these, improvements regarding the security of crypto users will also be discussed. In addition, the steps to be taken to inform investors about cryptos will be the subject of discussion. The digital hill will consist of three main titles. The three parts are listed as follows:

  • Part one: Digital Currency
  • Part two: Digital Finance and Fintech
  • Part three: The Digital Economy

3 other sessions, 15 other presentations

Studies on Turkey’s Digital Turkish Lira and Turkey’s contributions to this field will be the subject of discussion. In addition, crypto money platforms in our country, regulations in this area, decentralized finance (DeFi), non-fungible tokens (NFT) will also be discussed in 15 presentations. It is stated that valuable names in this field will participate in the summit. Time will tell whether a reasonable arrangement will come in line with the works on the subject of theology.

Crypto market down

Meanwhile, Koindeks.com As we have also reported, the Bitcoin price has dropped by 70 percent from its record levels in 2021. Many of the assets currently seen as risky are in the midst of a deep decline. According to experts, the current bear market can be largely attributed to the Fed’s aggressive tightening monetary policy to curb inflation. Besides Bitcoin, other cryptocurrencies are also trading well below last year’s records. The total value of the cryptocurrency market had passed $3 trillion by the end of 2021 without fail. Now, that measure is quickly over $900 billion.

The policy of compression resulted in the removal of all COVID-related quantitative easing programs that were successfully completed in March. A series of aggressive rate hikes followed. Also, investors have less money left to buy risky assets such as stocks and cryptocurrencies. The war in Ukraine, combined with OPEC’s policy of tightening supply, has caused oil and gas prices to skyrocket. This resulted in higher production costs and, as a result, higher prices.

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