Ak Party, Turkey’s governing party, held its first metaverse meeting on Monday wherein it discussed upcoming crypto regulation.
The Grand National Assembly of Turkey (TBMM) hosted its first meeting in the metaverse, Cointelegraph Turkey reported. Attending the virtual meeting were TBMM group deputy chairmen Mahir Unal and Mustafa Elitas along with Omer Ileri, the vice president of Ak Party responsible for information and communication technologies.
Physically, Elitas attended the meeting from the parliament building while Unal and Ileri were at the Ak Party (AKP) headquarters. Crypto regulation was the highlight of the meeting, Unal told state-run news agency AA, adding that crypto assets require both financial and legal regulations.
Mustafa Elitas, who recently hosted a meeting with representatives from the Turkish crypto ecosystem at TBMM, stressed that it’s impossible to stay out of the virtual world. “I believe that metaverse-based meetings would be improved expeditiously and become an essential part of our lives,” he added.
Elitas is also expected to meet with BINANCE Turkey on Thursday. As reported before, Binance Turkey was fined 8 million Turkish lira (about $600,000) after failing an audit for monitoring Anti-Money Laundering compliance.
As blockchain technology made digital ownership possible, Turkey has sped up its metaverse efforts, Omer Ileri said. Seeing the metaverse as a nascent yet quickly developing field, he predicted that it could impact many industries in the future.
Ak Parti olarak #Metaverse uzerinden ilk toplant?m?z? gerceklestirdik. pic.twitter.com/19Xfd6sIWR
— AK Parti Bilgi Iletisim Teknolojileri (@AKbilgitek) January 17, 2022
The metaverse is open for development in virtual reality, product management and innovative business models, Ileri noted, adding that AKP wants to pave the way for a metaverse ecosystem.
Related: Turkey’s crypto law is ready for parliament, President Erdogan confirms
Ileri argued that digital and technological advancements have legal, economic and social aspects. The AKP is striving to develop policies regarding crypto assets and social media to protect the citizens while empowering Turkey’s innovation capabilities, he concluded.
While the Turkish government is keen on blockchain technology and a central bank digital currency, Turkish President Recep Tayyip Erdogan is known for his stern stance against cryptocurrencies. Last year in a public Q&A session, he “declared war” on crypto, saying that “We have absolutely no intention of embracing cryptocurrencies.”
