Turkish President Tayyip Erdoğan Orders Metaverse Investigation

Speculation was ripe that Turkey would reveal its cryptocurrency policy after the president of El Salvador visited Turkey last week.

Both presidents and officials from Turkey’s ruling party met earlier this week to discuss the metaverse, with the president calling for a full investigation into the matter, reports Yahoo!.

Turkish President Erdoğan reportedly asked the ruling party to study the metaverse, cryptocurrencies and how they are traded. The move comes after Turks flocked to cryptocurrencies to prevent the lira from falling as inflation recently hit a 19-year high.

Erdogan reportedly instructed officials to explore the phenomenon with significant ramifications for the future. A forum will be created and the economic aspects of the metaverse, cryptocurrencies and social networks will likely be addressed.

Metaverse gains interest in Turkey

The report adds that thousands of virtual colonies in Turkey, most of them located in the ancient historic capital of Istanbul, have already been purchased on game-based metaverse platforms.

The Turkish government recently met in the metaverse to discuss cryptocurrency legislation. Cointelegraph quoted Turkey’s Grand National Assembly Speaker Mustafa Elitaş as saying, “I think metaverse-based meetings would quickly improve and become an essential part of our lives.”