Regulatory Signals for Cryptocurrencies from CMB President İbrahim Ömer Gönül
Ibrahim Ömer Gönül, the Chairman of the Capital Markets Board, has indicated that new regulations regarding cryptocurrencies will be published very soon. Given Turkey's growing interest in cryptocurrencies and the large number of investors, these regulations have sparked significant curiosity among investors. Gönül stated that they will implement secondary regulations related to cryptocurrencies shortly, expressing that these steps will allow crypto assets to have a structured presence in the financial system.
Turkish cryptocurrency investors rank third in the world based on the population among a total of 562 million investors. This figure, which corresponds to 19.3% of the population, illustrates the high interest Turkey has in cryptocurrencies. Particularly, the rapid surge in cryptocurrencies, especially Bitcoin, following the U.S. presidential elections has further increased interest in these assets in Turkey.
Speaking at the 8th Turkey Capital Markets Congress organized by the Turkish Capital Markets Association, Gönül mentioned that the approval of the Crypto Law by Parliament in June has placed a significant responsibility on the Capital Markets Board and that secondary regulations will be published very soon.
Gönül also believes that digital transformation will not be limited to crypto assets but will extend throughout the entire financial system, emphasizing that fintech will play an essential role in the future. He underscored the importance of financial literacy, announcing that they are accelerating efforts in this area and have established a financial literacy platform through protocols made in May. By collaborating with the Ministry of Family and Social Services and other public institutions, they aim to expand financial literacy training targeted at women and youth.
Chairman Gönül believes that financial literacy should be introduced earlier in the education system, mentioning that work in this field is still ongoing. He added that the platform has over 100,000 visitors to date, and certificates have been awarded to some of these individuals.