Turkish President urges ruling party to study on crypto and Metaverse

Turkey is now moving toward research and development in crypto and Metaverse-based initiatives more deeply.

Since Q4 20021, the Turkish Lira has been facing a huge downfall against the US dollar and in this situation, Turkey’s citizens are moving toward the adoption of Bitcoin and stablecoins to fight against the degrading value of the Lira. In this situation, the Turkish President is doing their best to bring better economic stability by integrating trade possibilities with other countries. Recently Turkish President had a meeting with El Salvador president Nayib Bukele, a country that adopted Bitcoin as currency. 

According to a Daily Sabah report, this week Recep Tayyip Erdoğan, President of Turkey, had a meeting with the officials of the ruling party of the country, the Ak Party. 

Reportedly, in the meeting, the President urged the ruling party officials to research on the crypto and Metaverse-based projects, how they can be used, and how transactions can be made with the use of these things. 

According to reports, in Turkey, few companies are active in the Metaverse-based projects at thousands of locations of Turkey available in the virtual world (Metaverse), however, the majority of them are inclined to the interest of gaming-based Virtual reality platforms. 

Earlier this the government of Turkey met in the Metaverse to discuss the regulation on the crypto industry. 

 Mustafa Elitaş, chairman of the Grand National Assembly of Turkey, stated the opportunities of crypto. 

Mustafa said:

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

These things are giving a very precise hint that Turkey is open to these technologies and innovations, which are going to be the future. And probably Turkey is planning to bring better financial and economic stability in the country with the adoption of these innovations, probably these may be a much better option.

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