Topic: [2018-02-23] Turkey Politician Advises National Crypto To Profit From Bitcoin (Read 131 times)

 

I was not aware of it, are these guys really in 2018? religion creates many barriers to development and at the same time creates division among people and encourages people to become naive


It's not too late because crytpo are here to stay for a long time, so they might be wasting their time if they want. no one will wait for then. the good of it all is that if we have more countries supporting bitcoin, then we will not be dependent on other countries that are still in the religious debate




a centralized currency, that is why they can not use bitcoin? And how is the religious question?

It's more likely that they are referring to services they will be offering based on Bitcoin, or maybe they are even referring to mining Bitcoin. It's very a very vague term that's being used, which should be explained in detail in the article -- just another example of how rushed the articles of last months are. On another note, the rush factor seems also to be the case when it comes to countries releasing their crypto coin, or them speaking out to do so in the coming year(s). I am almost 100% certain that this rushing is caused by how rapidly crypto has grown last year -- it makes them feel like they are losing track of the lastest developments and progress. In the same way, it made China even shut down its exchanges, and for that reason believe that they will be back at some point. Their extreme measures are meant to buy time, and that's really it. Governments just can't keep up with crypto, that's a fact.

The signals which seem to be coming from Turkey are so mixed. The deputy PM wants the government to issue Turkcoin. He thinks that there should be a way for the government to profit from Bitcoin. When you already have income tax and people who make money in the cryptocurrency industry pay taxes, why do you need the government to separately generate revenue from Bitcoin?
Plus there are people who try to link religion to everything? I do not understand what they mean when they say cryptocurrencies are against Islamic tenets...

If you can't beat them, join them. They know that cryptocurrencies will take over traditional payments, it's inevitable. People know it too that's why they're investing so much money into various cryptos. Is there going to be a battle? Certainly not among those government backed cryptos. It's their way of defending printable fiat money from losing value due to wider crypto adoption. Some people will surely fall for it and treat those cryptos as legit. Let's hope that the majority will choose decentralized currencies.

Now this is happening, its just the beginning these country knows great potential of the Blockchain technology and they wanted to be the first on the line. Maybe this year is going to be the battle of Country cryptocurrency, I'm curious who's country will follow the trend.

Ahmet’s proposal was seen as a means of spurring a national debate on the issue of cryptocurrencies in Turkey. Following the release of the report, the Turkish finance ministry and the capital markets authorities have started to look at the current legal gaps with the aim of regulating the cryptocurrency market. While the government still maintains its stance on bitcoin and other coins, the idea of a national cryptocurrency seems viable. In an interview with CNN Turkey, the deputy prime minister in charge of the economy said the government was working on modalities to develop and launch a national cryptocurrency:
Use of cryptocurrencies is still illegal and risky in the country at the moment; however, the government plans to begin preparations on a digital currency. The government values digitalization.
More details: Turkey In The Process Of Launching A National ‘Bitcoin’

A senior Turkish politician has repeated claims from the country’s deputy prime minister that it will seek to create ‘Turkcoin,’ its own national cryptocurrency.

OPPOSITION DEMANDS REGULATION

Several weeks after the ruling Justice and Development Party’s Mehmet Şimşek suggested the idea, Ahmet Kenan Tanrikulu, deputy chair of the opposition Nationalist Movement Party and former Industry Minister, argued a method was needed to “generate revenue” from Bitcoin.

“The introduction of encouraging regulations after assessing all kinds of risks would enable us to generate revenues from the cryptocurrency market, especially from bitcoin,” he wrote in a dedicated report on the topic quoted by various outlets.

“In this context, the country needs a bitcoin bourse and legislation to regulate this realm.”

Also arguing for the creation of a “Blockchain database,” Tanrikulu’s support comes at a time when ruling lawmakers have come out against cryptocurrency propagation.

In November 2017, state agency even directly advised against cryptocurrency ownership as it was “not suitable” for Muslims.

“Buying and selling virtual currencies is not compatible with religion at this time because of the fact that their valuation is open to speculation,” the Directorate of Religious Affairs wrote in response to a consumer inquiry.

GO CRYPTO ‘BEFORE IT’S TOO LATE’

Floating the concept of directly profiting from cryptocurrency markets would thus constitute a significant moral and legislative U-turn should Tanrikulu make any progress.

Speaking to local news resource Al-Monitor, he argued that it was merely a question of ‘not if, but when’ authorities realize they are too late to leverage the benefits of the emerging financial phenomenon.

“The world is advancing toward a new digital system. Turkey should create its own digital system and currency before it’s too late.”

National cryptocurrencies have hit the headlines again this week as Venezuela launches its oil-pegged Petro token, while closer to Turkey’s borders, Iran announced it would consider a similar concept while its central bank suggested it would look to “control and prevent” cryptocurrency usage.

Source: http://bitcoinist.com/turkcoin-turkey-politician-national-bitcoin/