Following Venezuela, now two more countries are going to release own cryptocurrencies: Turkey and Iran. Government backed cryptocurrencies aren’t a new phenomenon. After the Petro launch, the finance minister of Iran has announced that they are planning to launch the government backed Iranian cryptocurrency as well.
After that, some mass media sources confirmed, that the formed industry minister of Turkey, Ahmet Kenan Tanrikulu, told, that they ae considering launching of Turkish bitcoin, “Turkcoin”. His statement was confirmed by the Turkish prime minister, which also claimed that they are considering the release of national cryptocurrency.
Iranian financial regulator and the cyberspace regulator the High Council of Cyberspace is already working with the Central Bank of Iran in order to provide the legal and technical base for the national cryptocurrency functioning.
Regarding Turkey, just previous year Turkish politicians took a very negative attitude claiming that cryptocurrency isn’t compatible with Islam. So, such a rapid change is rather strange than logical.
Anyway, Turkey has to face the changes that are happening in the world, and if the government thinks about the national cryptocurrency, they will have to develop a proper legislation to regulate this field.
Reference: Petro though isn’t the fist cryptocurrency launched by government. In October 2017, Dubai launched their own crypto-money, called emCash.