CandleFocus Turkey Moves Forward with Digital Currency Plans
2024-11-19
Author: Content Editor
The Central Bank of the Republic of Turkey has announced the completion of the initial stage of its CBDC project, introducing the Digital Lira. This move aims to integrate Turkey into the broader digital economy and further development is planned for 2025. While digital currencies offer advantages such as increased efficiency and reduced costs, concerns about surveillance and privacy have emerged following China's launch of its digital yuan. Turkey's initiative will need to navigate these challenges and strike a balance between innovation and public trust.
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