Turkish President Recep Tayyip Erdogan has reportedly confirmed the completion of a crypto bill that will soon be sent to parliament for widespread use in the country.

In an effort to counter the fall of the Turkish lira, President Erdogan shared plans to implement a new economic model during a press conference in Istanbul. According to local media NTV, Erdogan announced that the crypto bill is ready, and added:

“We will take action on this issue by bringing it to Parliament immediately,” he added.
Erdogan acknowledged the recent inflationary event in the country, saying that the currency event is not about mathematics, but rather a process that shows the possibility and possibility of the appreciation of the lira:

“With this understanding, we intend to send it to a dry place. But the exchange rate will find its price in the market.”
With the introduction of a new law on crypto, the president envisages Turkey joining the world’s ten largest economies. Speaking of price increases in the area, he shared his plans to monitor people changing labels from price list organizers several times a day. “We want them to limit the growth of the dollar now,” he concluded.

Related: Bitcoin reaches new all-time high in Turkey when Fiat Lira enters free fall

On November 23, Bitcoin holders in Turkey avoided an accelerating currency crash, with the lira losing 15% against the US dollar in a single day.

1 day BTC / TRY candlestick chart (Binance). Source: TradingView
As the Cointelegraph reported, the fall in the fiat currency has pushed Bitcoin (BTC) to a new all-time high against the Turkish lira. The BTC / TRY trading pair reached 723,329 Turkish lira on Binance.

Source: CoinTelegraph