The Cryptocurrency Industry Development Monitoring and Reporting Association (Kripto Endüstrisini Geliştirme İzleme ve Raporlama Derneği) was founded to address the challenges plaguing cryptocurrencies and crypto-exchanges while simultaneously furthering trust and regulation in this sector within Turkey. The President of this association, Emrah İnanç, proclaimed that transparency is central to driving advancements in the crypto industry.
To Improve and Regain Trust
İnanç noted that they had founded their organization and initiated its operations to help bolster the industry, catalyze progress in the sector, and increase regulation. He highlighted that although crypto money initially abided by principles such as transparency, trackability, openness, and immunity from the misconduct, it has been detrimentally disrupted recently due to reports of insolvency and deception. Consequently, confidence within this domain is at an all-time low.
İnanç declared that they are all set to frequently and honestly report any negative characteristics they have identified in the critically-observed cryptocurrency markets to relevant public bodies. Furthermore, with their associations’ cooperation protocol, he insisted that these reports can be consistently conveyed directly to pertinent institutions and organizations, thus informing the authoritative organization of the sector’s present status.
Turkey Ranks 5th in the World in Cryptocurrency Investments
İnanç shared details about the cryptocurrency market in Turkey, noting that as of the end of 2022, more than 8 million people are participating in cryptocurrency trading. In addition, he highlighted Turkey’s position amongst the world leaders in terms of total investments and adults who trade at least once a month – with an enviable second-place ranking globally!
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