Baku, Azerbaijan, Dec. 12
By Rufiz Hafizoglu – Trend:
The Istanbul Stock Exchange may issue its own crypto currency entitled BISTcoin, the chairman of the board of directors of the Istanbul Stock Exchange, Himmet Karadag, told Turkish media.
Karadag said that the work is now underway to develop the BISTcoin crypto currency.
Karadag noted that due to the fact that existing crypto currencies can become objects of speculation, the Istanbul Stock Exchange is developing its own crypto currency, which will be provided with a material basis.
The Ministry of Economy of Turkey previously told Trend that cryptocurrency, which has recently gained great popularity, doesn't have material security and can become object of speculation.
The ministry further said that currency, which has no material security, and which is not backed up, can not be the basis for healthy economy.
Previously, Deputy Chairman of the National Movement Party (MHP) of Turkey, Ahmet Kenan Tanrikulu, called on the authorities of the country to create a cryptocurrency exchange for trading bitcoins.
Ahmet Kenan Tanrikulu believes that the creation of crypto-exchange is in the interests of Turkey, which intends to develop its economy.
Tanrikulu noted that there are already a number of companies and hotels in Turkey where it is possible to conduct financial transactions with cryptocurrency.