Ankara Looking Into Turkish Cryptocurrency

Turkish Deputy PM Mehmet Simsek

Turkey appears to have performed a U-turn on its attitude towards cryptocurrencies and has plans to investigate its own national digital currency, the country’s deputy prime minister has claimed.

Mehmet Simsek told Turkish television on Thursday that Ankara also wanted to investigate blockchain technology, and had already set up a group to examine a national digital currency.

However, last month, Simsek told Bloomberg that Bitcoin was history’s “biggest bubble”. In January, the Turkish minister also said trading in cryptocurrencies was “highly volatile” and lacked regulation.