President Erdogan appoints blockchain and crypto expert Prof. Dr. Fatma Özkul to the Central Bank’s Monetary Policy Committee. Learn about Özkul’s background, achievements, and Turkey’s ongoing efforts to regulate the crypto market amid rising inflation.
In a significant move, Turkey’s President Recep Tayyip Erdogan has appointed Prof. Dr. Fatma Özkul, a prominent figure in crypto and blockchain, to the Monetary Policy Committee of the Central Bank. Özkul, a faculty member at Marmara University, is renowned for her contributions to the fields of accounting, finance, and blockchain technology. Notably, she is also an advisory board member of BlockchainIST Center.
Economic Management Team Overhaul
Following Erdogan’s election victory, a revamped economic management team took shape. This included the appointment of Hafize Gaye Erkan, a former Goldman Sachs banker, as the Governor of the central bank. Subsequently, the central bank implemented a substantial policy rate increase, reaching 42.5%, continuing the monetary policy tightening initiated with the replacement of three MPC members in July.
Regulating Crypto Amidst Market Growth
As Turkey experiences a surge in crypto trading activity, the government is actively pursuing regulatory measures. Focused on licensing and taxation, these rules aim to address the challenges posed by the rapidly evolving crypto market. A draft law to regulate crypto assets is expected to be submitted next year as part of Turkey’s broader efforts to be removed from the Financial Action Task Force (FATF) gray list.