The Capital Markets Board of Turkey, otherwise known as the CMB, will be moving forward with the regulation of cryptocurrencies, according to Turkish media.
Regulators all over the world are hesitant to allow their citizens to get involved with cryptocurrencies such as Bitcoin. After all, the space is consistently changing, and many out there aren’t sure what they’re getting into. That said, those that do try to get involved are prone to scams and other issues if they aren’t aware of these things ahead of time. This is where regulation comes in.
In Turkey, the CMB is looking into regulation regarding the supervision, surveillance, and regulation of Bitcoin and other cryptocurrency assets. Interestingly, this is at the request of the government to do so, meaning that it’s highly likely Turkey is ready to view Bitcoin as more than just a fluke or a fad.
Speaking on the matter is Ahmet Usta, the Chief Editor at the Blockchain Turkey Platform, who spoke to CoinTelegraph, stating that “excessive regulation or heavy taxes would harm the markets and hamper innovation efforts.” So, there needs to be some sort of balance between heavy regulation and too little regulation, as is the case in many fields all over the world. Of course, with one as emergent as cryptocurrency, too little or too much regulation could have a massive impact on the future of the space.