Turkey targets crypto with new 0.03% transaction tax

Turkey introduced a 0.03% tax on crypto transactions as part of a major fiscal reform to address the budget deficit caused by recent earthquakes.

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Turkish Citizens Seek Refuge in Gold and Stablecoins Amid Surging 67% Inflation Rate

According to February 2024’s latest inflation data, Turkey faces an inflation rate exceeding 67%, amid ongoing currency devaluation and a declining lira against the U.S. dollar. Recent findings suggest that in an effort to safeguard their wealth, Turks are increasingly turning to gold, with smuggling hitting unprecedented levels. Additionally, there is a growing interest among [...]

The post Turkish Citizens Seek Refuge in Gold and Stablecoins Amid Surging 67% Inflation Rate appeared first on Crypto Breaking News.

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OKX Expands Global Presence: Establishes Hong Kong Entity & Targets Turkish Market

OKX, the world’s second-largest crypto exchange, has announced the establishment of a Hong Kong entity to offer virtual asset services in the region.  According to the press release, the company also intends to apply for the virtual asset service provider (VASP) license and Type 1 & 7 licenses under the Securities and Futures Ordinance in […]

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Turkish Lira Plunges to Record Low a Day After Central Bank’s Interest Rate Policy U-Turn

The Turkish lira fell to 25.74 per dollar just under a day after the central bank hiked interest rates for the first time since 2021. Although the rate hike decision was widely anticipated, the increase still fell short of the 21% that some analysts had predicted. Turkish Lira Down 21% Since the Start of 2023 [...]

The post Turkish Lira Plunges to Record Low a Day After Central Bank’s Interest Rate Policy U-Turn appeared first on Crypto Breaking News.

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Fugitive Crypto Exchange Founder Faruk Ozer Extradited to Turkey

Albania has extradited the founder of Turkish cryptocurrency exchange Thodex to his home country where he is charged with defrauding investors. The crypto entrepreneur disappeared after his trading platform unexpectedly went offline in the spring of 2021 and was arrested last year by Albanian law enforcement. Albania Hands Over Alleged Crypto Fraudster to Turkish Authorities

The post Fugitive Crypto Exchange Founder Faruk Ozer Extradited to Turkey appeared first on BTC Ethereum Crypto Currency Blog.

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Ethereum Founder Sends $227k To Turkey Earthquake Victims

Vitalik Buterin, the founder of Ethereum, has donated over $227,000 in ETH towards the  support of ongoing relief efforts in Turkey after the earthquake. Earthquakes recently [...]

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Turkish CBDC: Successful First Phase Using The Digital Turkish Lira Network As Payments

The Central Bank of the Republic of Turkey (CBRT) announced on December 29th that the first-phase research for their new central bank digital currency (CBDC) was successful. Payments using this Digital Turkish Lira Network were successfully completed. In September 2021, as part of a research project titled Central Bank Digital Turkish Lira Research and Development, CBRT first disclosed that […]

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Turkey's Central Bank Finishes First CBDC Test With More In 2023.

The CBRT's Digital Turkish Lira has completed its first experiment. On Dec 29, the CBRT announced its first digital lira payments. In the first quarter of 2023, it will conduct restricted, closed-circuit pilot testing with technology stakeholders. (Read More)

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Prominent Turkish Exchange Bitay Plans to Enter the Indian Crypto Market

The company has already set up an office in Gurgaon in India. According to the data, the Indian crypto market

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Turkish prosecutor wants to imprison Thodex execs for 40,564 years

In what would be the most severe jail sentence of all time, a Turkish prosecutor wants to imprison 21 executives of the now-defunct crypto exchange Thodex for up to 40,564 years, Bloomberg reported on March 31, citing reports from local media. In April 2021, one of the then-popular crypto exchanges Thodex said its platform is […]

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Prosecutor Seeks Thousands of Years of Prison for Missing CEO of Turkish Crypto Exchange Thodex – Exchanges Bitcoin News

Members of the team of the now defunct Turkish crypto exchange Thodex may receive thousands of years in prison, if the court backs the prosecutor’s plea in the case. The trading platform’s CEO has been missing for the past year since Thodex suspended activities in a suspected exit scam. Turkey Seeks up to 40,000 Years […]

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Turkish President Recep Tayyip Erdogan instructs the ruling party to explore metaverse and crypto

Turkish President Recep Tayyip Erdogan and governing Ak Party executives had a meeting earlier this week to discuss the metaverse, with the president calling for comprehensive analysis on the matter. Erdogan has allegedly encouraged the Ak Party to research the metaverse, cryptocurrencies, and the manner in which transactions are done employing them. At a meeting on […]

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Turkey’s President Embraces Cryptocurrency and the Metaverse

Turkey’s high inflation is disrupting the country, and cryptocurrency analysts believe that Bitcoin could help solve the country’s prolonged issues.

Continue reading Turkey’s President Embraces Cryptocurrency and the Metaverse at DailyCoin.com.

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In Investing, What’s Comfortable Is Rarely Profitable

“In investing, what’s comfortable is rarely profitable.” – Robert Arnott Covered: Lessons from Turkey Why Adoption is Exploding Lessons From Turkey Bitcoin and crypto do not feel very comfortable right now, but that’s the point. It requires mental fortitude to see the big picture. When you stop looking at the price, clear your head, and solely […]

The post In Investing, What’s Comfortable Is Rarely Profitable appeared first on CryptosRus.

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Turkey Ditches the Unstable Turkish Lira and Opt For Cryptocurrencies

Turks put their money into U.S. dollars, euros, or gold, yet the rise of crypto-assets in the past few years showed a new way to invest.

Continue reading Turkey Ditches the Unstable Turkish Lira and Opt For Cryptocurrencies at DailyCoin.com.

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Bitcoin hits new all-time high in Turkey as fiat currency lira goes into freefall

Turkish Bitcoin holders avoid an accelerating currency collapse as the lira loses 15% against the U.S. dollar in a single day.

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Russia Developing Payment Gateways With Partners Like Turkey, Mulling Crypto Settlements

Bank of Russia is building a system of gateways with foreign payment networks and is now working with Turkey in this field. Russia’s monetary authority would also allow the experimental use of cryptocurrencies in foreign economic activities, its head was quoted as saying. Russia’s Central Bank ‘Actively Working’ With Turkey on New Payment Gateways The [...]

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Crypto Exchange Thodex Founder Denies Fraud Charges in Turkey

The founder of failed cryptocurrency exchange Thodex has denied all fraud-related allegations in a Turkish court. The crypto entrepreneur was handed over to Turkey by Albanian authorities earlier this year to face charges for his leading role in running the now defunct platform. Alleged Crypto Fraudster Faruk Ozer Claims He Was Framed in Thodex Case [...]

The post Crypto Exchange Thodex Founder Denies Fraud Charges in Turkey appeared first on Crypto Breaking News.

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Turks Turn to Tether Amid Record Inflation, Limited Access to Dollar, Report Reveals

People in Turkey have been seeking refuge in stablecoins as their national fiat continues to depreciate against the greenback. The Turkish lira saw a record drop in its exchange rate with the U.S. dollar when the country’s central bank halted intervention after the recent presidential vote. Turkish Investors Seek Safe Haven in Stablecoin Tether Despite [...]

The post Turks Turn to Tether Amid Record Inflation, Limited Access to Dollar, Report Reveals appeared first on Crypto Breaking News.

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