[Turkey President Recep Erdogan appoints cryptocurrency expert to central bank’s monetary policy committee]
Türkiye’s president appointed Fatma Özkul to the central bank’s monetary policy committee. Özkul is a faculty member in the Department of Accounting and Finance at the School of Business Administration at Marmara University and has published several academic publications in the accounting and auditing industry. She is also an advisory board member of the BlockchainIST Center and the author of several books, including Accounting for Cryptoassets, which won the Financial & Economics Book of the Year award.
President Erdogan formed a new economic management team following his election victory in May this year and appointed former Goldman Sachs Group Inc. banker Hafize Gaye Erkan as central bank governor in June. Separately, Turkey's central bank made personnel changes in July and this week raised its policy rate to 42.5%.
Facing the challenge of high inflation, the Turkish government is working hard to regulate domestic cryptocurrency trading and plans to submit a draft bill for crypto market regulation next year. Turkey, the fourth-largest country in the world by crypto trading volume, is actively seeking to exit the Financial Action Task Force (FATF) gray list.