Turkey Holds First Ever Metaverse Meeting, as the Government Discuss Crypto Regulations

A clear change in the country’s stern stance against crypto, as Turkey’s Governing Party holds its first ever metaverse meeting, to discuss crypto regulations.

Government of Turkey Holds First Ever Metaverse Meeting

On Monday, TBMM (Grand National Assembly of Turkey) held the first ever metaverse meeting that largely discussed crypto regulation in the country. The meeting was attended by Mahir Ünal, TBMM group deputy chairman, Ömer İleri, the vice president of Ak Party, and Mustafa Elitaş. While Mustafa Elitaş was present physically at TBMM, Mahir Ünal and Ömer İleri attended the meeting from the party’s headquarters.

As reported by state news agency AA (Anadolu Agency), Ünal said that crypto requires both financial and legal regulations. Elitaş stated:

“I believe that metaverse-based meetings would be improved expeditiously and become an essential part of our lives,”

Elitaş, Turkey’s former finance minister, has also held a meeting with representatives of Turkey’s crypto ecosystem. Further, Elitaş is planning to meet Binance officials in the near future. Binance was recently fined 8 million liras ($600k) for failing to conduct an audit relating to Anti-Money Laundering compliance.

Moreover, Öİleri said that because the blockchain technology makes digital ownership possible Turkey has expedited its metaverse efforts. He further added the relatively new but quickly developing  metaverse technology would impact many industries in the future.

Turkey and Blockchain Technology

While at the moment Turkish government is looking very keen to explore blockchain-related products, i.e. Metaverse and CBDC (Central Bank issued digital currency), it has been, in the past, rather wary of it. Once, in a Q&A session, the country’s president Recep Tayyip Erdoğan had stated that they are at war with crypto and that they have no intention of embracing it.

It is very obvious now that the countries around the world are skeptical about crypto only and as for the blockchain technology many seem to have welcomed it.