Lawmaker in Turkey offers to conduct national cryptocurrency

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According to the Al-Monitor report, the deputy chairman of the Turkish Nationalist Movement Party and the former Industry Minister of the country, Ahmet Kenan Tanrikulu, has prepared a report proposing the creation of a cryptocurrency supported by the state called “Turkcoin”.

Despite the fact that the technicalities remain unclear, the legislator asserts that Turkcoin would be aimed at tokenize asset-backed securities for the issuance, which, in his opinion, would lead to fewer risks than existing cryptocurrencies.

The report said that such a basket of assets would include large public companies in the country's wealth fund, such as Turkish Airlines, Istanbul Stock Exchange and Turk Telekom.

Elsewhere in the report, the legislator called for a more precise regulation of the cryptocurrency in an attempt to control the market. He argues that the lack of a legal basis for Turkey's cryptocurrency could lead to illegal use.

It is noteworthy that comments from Tanrikulu come a few weeks after the Deputy Prime Minister of Turkey said that his government would seek to launch a national cryptocurrency during an interview with CNN Turkey.

Potential consideration of Turkey also comes a few days after Venezuela has seen its own sale of tokens in the country, thanks to which its president Nicolas Maduro said that the nation has so far raised $ 735 million.