THE ATTEMPTS OF COUNTRIES TO PRODUCE THEIR OWN CRYPTOCURRENCIES AND THE EFFECT OF THESE ATTEMPS TO THE FUTURE OF ALL CRYPTOCURRENCIES

Onur YILMAZER

Understanding that blockchain technology and cryptocurrencies will have a much greater importance in the future has increased the interest of the countries that dominate the world money market in this technology and have made them focus on cryptocurrencies. The experience that blockchain technology, which was originally defined as crypto money technology, meets all the requirements of the age in terms of security and usability, has increased the interest in this technology in many areas such as education, trade, banking and logistics. Although countries have followed a positive policy against blockchain and started working on many innovative projects in this field, they have not made any noticeable progress regarding cryptocurrencies. On the other hand, many countries have not implemented restrictive measures against cryptocurrencies due to the positive perspectives of people on cryptocurrencies. However, the decentralized nature of the cryptocurrencies currently used in the market and the unresolved legal problems have led these countries to produce their own crypto currencies. Countries starting to produce their own cryptocurrencies are a strategic move against the dominance of all cryptocurrencies currently in the market. However, this move contradicts the current legal rules of the aforementioned countries and the independent nature of cryptocurrencies. While some countries are rapidly working to become a pioneer in the field of blockchain technology and crypto money, some are taking slower steps. Regardless of their perspectives and speeds, countries need to make legal regulations against this revolutionary technology. In this study, it is examined that how the operations that countries have already carried out and planned on their own cryptocurrencies can legally affect the future of crypto currencies.

Keywords: Cryptocurrency, Bitcoin, Trade with Cryptocurrency, Cryptocurrency Law, Altcoin, Blockchain