News > Turkey President Announces a Cryptocurrency Bill, Speaks of a New Economic Model

Turkey President Announces a Cryptocurrency Bill, Speaks of a New Economic Model

Turkey’s President Recep Tayyip Erdoğan will send a crypto law to the country’s parliament.

Bitcoin and other cryptocurrencies have grown increasingly popular in Turkey, where inflation has soared and the country’s currency, the lira, hit record lows against the U.S. dollar earlier this year. Many consumers have seen crypto as a way to circumvent these issues.