Turkey President Tayyip Erdoğan Orders For Metaverse Research

Speculations were ripe that Turkey would reveal its crypto policy after El Salvador President visited Turkey last week. 

Both the presidents and Turkey ruling party officials met earlier this week to discuss the metaverse, with the president calling for comprehensive research on the subject reports Yahoo!.

Turkey President Erdogan has reportedly asked the ruling party to study the metaverse, cryptocurrencies, and how transactions are made using them. The move comes after Turks flocked to crypto to evade the plunging lira as inflation hits a 19-year high recently.

Erdogan reportedly instructed officials to explore the phenomenon with significant ramifications for the future. A forum will be created and the economic aspects of the metaverse, cryptocurrencies, and social media will likely be addressed.

Metaverse gains interest in Turkey 

The report adds thousands of virtual colonies in Turkey, most of them located in the historic former capital of Istanbul, have already been bought in game-based metaverse platforms.

The Turkish government recently met in the metaverse to discuss cryptocurrency lawmaking. The CoinTelegraph quoted the Grand National Assembly of Turkey chairman Mustafa Elitas saying, “I believe that metaverse-based meetings would be improved expeditiously and become an essential part of our lives.”