İş Bankası Ceo Hakan Aran Makes Statement On Cryptocurrency

Turkey İş Bankası CEO Hakan Aran made significant statements regarding cryptocurrency regulations.

The CEO of İş Bankası, Hakan Aran, made significant statements regarding cryptocurrencies and cryptocurrency regulations at the Future of Finance Summit.

Emphasizing the importance of cryptocurrencies in the future of finance, Aran stated, "In the coming period, cryptocurrencies will be an important component. The year 2008, when cryptocurrency emerged, is not a coincidence. 2008 is also the year when the existing financial system collapsed. Therefore, cryptocurrency is the product of a rebellion, a technological uprising."

Aran further highlighted that the material basis behind cryptocurrencies is not as established as traditional financial systems, making them susceptible to significant fluctuations. He emphasized the need for correct regulations in the cryptocurrency space, stating, "Therefore, strong regulations are needed to find the right place for cryptocurrencies and to use them as an alternative financial instrument with minimal risk."

Addressing bank regulations, Aran expressed his dissatisfaction with the fact that the legal regulations for cryptocurrencies have not been shared with banks. He mentioned the opportunity to enact cryptocurrency laws and stressed the importance of consulting banks for their opinions. Aran stated, "I believe that the understanding of 'There is no need to ask the traditional actors about this. If they ask, they will kill it before it is born,' is not correct."

Finally, Aran emphasized the need for support from banks in the regulatory process, stating, "In fact, banks are the most reliable institutions for protecting the investments made by citizens in this regard. I believe that the custody function can be easily given to banks."