Devconnect: Ethereum Ecosystem Gathers in Istanbul. ♦️

Ethereum's largest event, Devconnect, took place in Istanbul from November 13-19, 2023. Over 100 side events were organized by developer teams across Istanbul, attracting global participants.

Vitalik Buterin's Presence:

Ethereum's co-founder, Vitalik Buterin, delivered a speech titled "30 Minutes of Ethereum" during the ETHGünü on the first day, with approximately 2,000 attendees.

Cross-Chain Hacker's Den:

Hosted by Internet Computer (IC), this hackathon was a highlight of Devconnect, held at Masterpiece Maslak. Participants had the opportunity to develop on IC, covering topics like creating dApps on the chain, coding smart contracts on Bitcoin, and building cross-chain dApps.

Dominic Williams' Insights:

DFINITY's founder, Dominic Williams, emphasized ICP's features and advantages. Participants were tasked with developing dApps on the chain, fostering creativity with four different approaches.

Turkish Web3 Community Potential:

Williams expressed optimism about the Turkish Web3 community, highlighting the eagerness to work on new projects using ICP as a Web3 platform.

DevCon on the Horizon:

Devconnect concluded with anticipation for DevCon, the largest Ethereum ecosystem event. Istanbul is a top contender to host DevCon in 2025, with eyes set on becoming the primary candidate for the event in South Asia.

In summary, Devconnect in Istanbul showcased Ethereum's vibrancy, with Buterin's insights, a dynamic hackathon, and Williams' positive outlook on the Turkish Web3 community. The focus now shifts to the upcoming DevCon, with Istanbul positioned as a potential host in 2025.

#ETH #VitalikButerin #istanbul #TurkeyCrypto #Turkey

Turkish Crypto Landscape Shifts with Mehmet Şimşek's New Regulations. 🇹🇷🪙☠️

Turkey has taken a significant stride in the world of cryptocurrencies with the introduction of a groundbreaking law. Minister of Treasury and Finance Mehmet Şimşek, a key figure in economic policy, recently shared pivotal insights into the country's approach to crypto assets.

Mehmet Şimşek's Announcement:

In this legislative move, crypto assets are officially defined as "non-material assets expressing value or rights." Mehmet Şimşek's announcement also hinted at anticipated changes in the Capital Markets Board (SPK) law, shedding light on definitions for crypto asset service providers and storage services.

Regulatory Changes:

The focus of these regulations lies in scrutinizing the functionality of crypto platforms, with a distinct emphasis on regulating their operations. This shift indicates a strategic move towards fostering a secure and controlled crypto environment.

Legislative Progress:

Mehmet Şimşek's involvement in shaping crypto policies is not new. In October 2023, he addressed crypto matters in a presentation to the Grand National Assembly of Turkey Planning and Budget Commission. Additionally, AKP's Ömer İler disclosed an ongoing effort to draft comprehensive crypto regulations, poised for presentation in the parliament shortly.

Implications and Future Developments:

These regulatory changes signify Turkey's commitment to fortifying its stance on cryptocurrencies. The ongoing updates and developments that follow will be instrumental in navigating the intricacies of this evolving landscape.

As Turkey takes a bold step forward in regulating cryptocurrencies, the coming months promise more detailed insights and follow-ups on the unfolding scenario. The recent announcements underscore Turkey's proactive approach in addressing the challenges and opportunities presented by the dynamic realm of cryptocurrencies.

#TCMB #CBRT #TurkeyCrypto #Turkey #MehmetŞimşek

🇹🇷 Turkey's Crypto Revolution: 40% Embrace Digital Currencies Post-Earthquake 📈

Hey there, it's Linkan! I've got some eye-opening news from Turkey. Post the devastating earthquake, there's been a remarkable surge in cryptocurrency adoption in the country. A staggering 40% of the population now owns crypto, placing Turkey 12th on the Global Crypto Adoption Index. 🌍💰

This shift is more than just numbers. It reflects how people turn to digital currencies in times of crisis, seeking alternative financial solutions. It's a testament to the resilience and adaptability of the human spirit, especially in challenging times. 🚀

But here's what's really intriguing: What does this mean for the future of crypto in regions facing economic or natural crises? Could digital currencies become a beacon of hope and stability? 🤔

I'm curious to hear your thoughts on this. Let's discuss in the comments below! And if you're as fascinated by this as I am, show some love by liking, commenting, or tipping. Let's keep the crypto conversation going! 💬👍

*Disclaimer: This content is not financial advice. Always do your own research before making any investment decisions.*

Hashtags:
#TurkeyCrypto #DigitalCurrencyAdoption #CryptoResilience #GlobalCryptoTrends #CryptoCommunity

Your engagement is crucial in spreading the word and building our community. Let's dive deeper into the dynamic world of cryptocurrencies together! 🌐🔥

Turkish Government's Crypto Regulation on the Horizon. 🇹🇷📖🪙

As the usage and investor numbers of cryptocurrencies continue to rise in Turkey, there are indications that a new crypto regulation bill is set to be presented in the Turkish Grand National Assembly.

Expected Features of the Regulation:

Aimed at ensuring financial stability and enhancing protection for cryptocurrency investors. Includes provisions to prevent the use of cryptocurrencies in money laundering and financing terrorism. Notably, the regulation addresses the involvement of social media influencers in the crypto space.

Timeline and Legislative Progress:

The draft is anticipated to be presented to the TBMM (Turkish Grand National Assembly) before the end of the year. This move aligns with the commitment outlined in the 2024 Presidential Annual Program, focusing on the taxation of digital virtual assets.

Taxation of Digital Assets:

The 2024 Presidential Annual Program includes plans for the taxation of "digital virtual assets." Ongoing efforts to define these assets within the Turkish legal framework.

Crucial Element for Removal from Grey List:

Treasury and Finance Minister Mehmet Şimşek emphasizes that the last requirement for Turkey to be removed from the grey list is the implementation of crypto regulations. Central Bank President Hafize Gaye Erkan collaborates with the Capital Markets Board (SPK) on the regulation of cryptocurrencies.

This regulatory initiative reflects Turkey's commitment to balancing the growing influence of cryptocurrencies with the need for financial stability and security.

#TurkeyCrypto #Turkish #Turkey #türkiye #TurkishLira

Moody's Expected to Upgrade Turkey's Credit Outlook. 🇹🇷🔝🆙

Moody's, a prominent credit rating agency, is poised to make a significant announcement regarding Turkey's credit outlook on January 12, 2024. While the credit rating is expected to remain at "B3," there's a buzz about a potential upgrade in the outlook from "stable" to "positive."

A recent survey conducted indicates a prevailing optimism among economists, with 10 out of 13 predicting a positive outlook. Furthermore, five analysts foresee an upgrade from the current "B3" rating to "B2." This speculation follows Moody's last adjustment in August 2022 when the credit rating was downgraded from 'B2' to 'B3' with a revised "stable" outlook.

▪️Analyst Predictions:

The absence of a December 15 report in 2023 has heightened the anticipation for Moody's upcoming evaluation. Analysts point to sustained tight monetary policy and inflation-targeted wage agreements as factors contributing to the potential shift from a "stable" to a "positive" outlook.

▪️Other Rating Agencies:

While Moody's is set to reveal its assessment on January 12, Fitch and CI Ratings have scheduled their reports for March 8, 2024, and September 6, 2024, respectively. Notably, S&P Global upgraded Turkey's outlook from "stable" to "positive" on November 30, 2023.

▪️Economic Indicators:

Economic indicators, such as Turkey's Treasury's cash deficit, have witnessed a staggering increase from 169.4 billion TL in 2022 to a record-breaking 625.5 billion TL in 2023. Concerns about rising cash deficits are influencing Moody's assessments, adding complexity to the upcoming announcement.

▪️Public Sentiment:

Public sentiment surrounding the potential credit outlook upgrade is a mix of skepticism and frustration. Concerns about economic policies and their impact on retirees are prevalent, with some expressing skepticism about the credibility of credit rating agencies. These sentiments reflect broader economic apprehensions.

#Moody's #TurkeyCrypto #TurkishLira #Turkey #türkiye

🔴 BREAKING NEWS | 🇹🇷

International credit rating agency S&P revised Turkey's credit rating outlook from stable to positive.

#Turkey #TurkeyCrypto #Turkish #türkiye #Standard&Poor's

Turkey's Financial Landscape Set for Transformation with Upcoming Crypto Regulations. 🇹🇷🪙

In a recent address at the Istanbul Chamber of Commerce January Meeting, Mehmet Şimşek, Turkey's Minister of Treasury and Finance, outlined the nation's ambitious plans to regulate cryptocurrencies. Here's a snapshot of the key points from his announcement:

Şimşek underscored the significance of green digital transformation in today's global landscape, deeming it a pivotal area for development and reform.

Highlighting the positive outcomes of the medium-term reform program, Şimşek acknowledged its influence in meeting expectations and driving progress.

The Finance Minister confirmed the imminent release of a cryptocurrency-related regulation, set to be presented to the parliament soon. This move aims to fill the existing regulatory gap for cryptocurrencies in Turkey.

Şimşek reported the completion of partial regulations concerning the governance of state-owned enterprises (KIT) in alignment with international norms. These regulations are expected to be tabled in parliament shortly.

Şimşek revealed that efforts on these initiatives would intensify after April, signaling a dedicated push towards comprehensive regulatory measures.

Contrary to common expectations, Şimşek clarified that the crypto regulation approach wouldn't primarily focus on taxation. Instead, the emphasis lies on eliminating uncertainties, controlling potential risks, and fostering the development of blockchain technology and the crypto asset ecosystem.

This update aligns with Turkey's proactive stance in adapting to the evolving landscape of digital assets and blockchain technology. Stay tuned for further developments as the nation positions itself at the forefront of crypto regulation.

#MehmetŞimşek #Turkey #TurkeyCrypto #TurkishLira #türkiye

Turkish Minister Announces Successful Operation: $850,000 in Crypto Assets Seized. 👮🏻‍♂️🙅🏻‍♂️

Turkish Minister of Interior, Ali Yerlikaya, unveiled the outcomes of Operation Sibergöz-10, a coordinated effort across 36 cities. Targeting a spectrum of cybercrimes, the operation led to the apprehension of 144 suspects and the confiscation of assets totaling $850,000, including cryptocurrency and three crypto wallets.

Achievements:

Operatives tackled charges ranging from payment systems offenses to illegal gambling and online exploitation, resulting in the seizure of diverse assets. Among the confiscated items were 4 residences, 10 plots of land, 1 private boat, 3 luxury vehicles, 2 motorcycles, and $850,000 in crypto assets. Notably, three cold storage wallets containing crypto assets were also secured.

Financial Implications:

The operation's financial impact extended to 4,210,000 TL, 101,634 USD, and 101,090 EUR. Alongside crypto assets, law enforcement also recovered firearms, narcotics, and digital materials.

Distribution of Arrests:

The arrests were strategically distributed across various charges:

- 54 suspects targeted for payment and information systems crimes.
- 48 suspects involved in combating illegal gambling.
- 33 suspects focused on combating online child exploitation and harassment.
- 9 suspects apprehended for crimes related to illegal gains.

Legal Consequences:

Legal pursuits are underway, with 19 suspects facing arrest warrants carrying sentences ranging from 0-5 years, and 2 suspects sought with sentences ranging from 5-10 years.

Minister Yerlikaya underscored the commitment to combating illegal activities, specifically emphasizing the fight against illegal gambling and sophisticated fraud using information systems. Commending the police force for their efforts, he pledged ongoing operations against illegal gambling activities.

#AliYerlikaya #TurkeyCrypto #Turkey #NFP #BTC

World Bank Announced 2024 Türkiye Economic Outlook. 🌐🏦🇹🇷💸

The World Bank has unveiled its economic forecast for Turkey, shedding light on the nation's trajectory amid a complex global landscape. Here are the key takeaways:

◾Turkey's Economic Growth:

In 2023, Turkey exhibited a growth rate of 4.2%. Looking ahead, the projections for 2024 and 2025 stand at 3.1% and 3.9%, respectively. These figures paint a picture of steady, albeit moderated, economic expansion.

◾Global Economic Landscape:

The United States is positioned for a growth uptick, with a forecasted rate of 1.6% in 2024. In contrast, the Eurozone anticipates a more modest growth of 0.7%. Meanwhile, China, a powerhouse in the global economy, is projected to maintain robust growth at 4.5%.

◾Global Economic Dynamics:

The World Bank report underscores the recovery of the global economy, driven by the resilience of the United States. However, it doesn't shy away from emphasizing the short-term risks emanating from escalating geopolitical tensions.

◾Notable Observations:

🔹Receding Risk of Global Recession:

While the risk of a global recession has diminished, the report underscores the importance of remaining vigilant in the face of ongoing geopolitical challenges.

🔹Slowed Growth and Trade:

Major economies are grappling with a period of slowed growth and subdued global trade. This cautious economic environment demands strategic navigation.

🔹Challenges for Emerging Economies:

Emerging economies find themselves in a testing scenario characterized by tight financial conditions and elevated borrowing costs.

🔹Global Trade Realities:

The anticipated global trade growth is forecasted to be only half of the pre-pandemic 10-year average, highlighting a considerable shift in trade dynamics.

🔹Borrowing Costs and Interest Rates:

Developing economies are confronted with high borrowing costs, while global interest rates, when adjusted for inflation, are at their highest levels in four decades.

#Turkey #WorldBank #TurkeyCrypto #TurkishLira #economy

Turkish economy grew by 4.5 percent in 2023. 🇹🇷💯

In the ever-changing landscape of 2023, Turkey's economy showcased commendable resilience with a 4.5% growth, defying expectations amid tightening monetary policies. Let's delve into key insights and sectoral nuances that shaped this economic journey.

In 2023, Turkey's economy demonstrated resilience with a 4.5% growth, slightly lower than previous years but still impressive. Comparative figures reveal a robust 5.6% growth in 2022 and an impressive 11.5% surge in 2021, marking a significant recovery from the pandemic-hit 1.9% growth in 2020.

The per capita GDP soared to a historic peak of 307,952 TL (13,110 USD), marking a milestone in dollar-denominated per capita income. The entire economy crossed the 1 trillion-dollar mark, reaching 1.12 trillion dollars in 2023, according to TÜİK data.

Domestic consumption played a pivotal role, witnessing a 12.8% increase in household final consumption expenditures. Investments grew by 8.9%, while the construction sector stood out with a noteworthy 7.8% growth, fueled by post-earthquake reconstruction activities.

Agriculture faced a marginal contraction of 0.2%, highlighting challenges in livestock and weak demand for seeds and fertilizers. The industrial sector grew modestly by 0.8%, marking its lowest growth since 2019, while the construction sector thrived at 7.8%.

In late 2023, the Central Bank raised the policy interest rate dramatically from 8.5% to 42.5%, addressing inflation and currency concerns pre-election. Despite initial worries, the final quarter saw a 4% annual growth, fostering optimism for the future.

The 0.2% agricultural sector contraction raises worries, with experts warning of potential food supply issues and increased foreign dependence. Despite a record per capita income and GDP surpassing $1 trillion, concerns persist about food prices and challenges from the agricultural downturn.

#Turkey #TurkeyCrypto #economy #TurkishLira #Dollar

Turkey's Crypto Legislation: A Post-Election Overview by Mehmet Şimşek. 🔥🇹🇷

In a recent interview with Bloomberg HT, Mehmet Şimşek, Turkey's Treasury and Finance Minister, shared insights into the impending crypto legislation in the country. Let's delve into the key highlights he provided.

Mehmet Şimşek assured the public that the long-awaited crypto legislation, known as Kripto Tasarısı, is ready for implementation. The anticipation for its enactment is high, with expectations of unfolding after the local elections on March 31, 2024.

Expressing confidence, Şimşek hinted at the potential activation of the crypto legislation shortly after the March 31 elections. Considering the election date, the implementation timeline might extend into April.

Addressing concerns about taxation, Şimşek provided assurance that there are no immediate plans for tax regulations that could disrupt the crypto market.

Şimşek discussed Turkey's commitment to combating money laundering and financing terrorism, aligning with FATF standards. An on-site evaluation by a delegation is expected in April-May, with the possibility of Turkey being removed from the watchlist by June 2024 if political obstacles are avoided.

Mehmet Şimşek's recent insights offer a glimpse into Turkey's approach to crypto legislation, indicating the potential establishment of a regulatory framework post the local elections. The emphasis on avoiding disruptive tax measures and Turkey's dedication to international standards adds depth to the evolving crypto landscape in the country. Stay tuned for further updates on this dynamic regulatory journey.

#MehmetŞimşek #TurkishLira #Turkey #TurkeyCrypto #crypto

Turkish Lira Tops Fiat Volumes in September: Binance Research. 🇹🇷🕵️

The Turkish Lira (TRY) has become the leading fiat currency on Binance, the world's largest exchange, with 75% of all fiat volumes in September.

This surge in adoption is due to increased interest from both new and experienced investors, according to a Binance market research report.

Turkey's crypto adoption rate has grown significantly over the last three years, reaching 40%, placing it 12th on the Chainalysis Global Crypto Adoption Index for 2023.

In the survey, it was found that 30% of participants started trading cryptocurrencies 1-2 years ago, while 19% and 8% began in the last year and six months, respectively.

New users entering the market have contributed to the rise in trading activity, making the Turkish Lira the most traded fiat currency on Binance.

Many young digital asset users in Turkey are motivated to trade and invest in cryptocurrency, with some looking to invest in real estate using their crypto earnings.

Key factors driving this trend include profitability (66%), low transaction costs (33%), ease of monitoring (56%), and a love for blockchain technology (40%).

The absence of minimum deposit requirements and enhanced security also play a role in attracting new participants.

While Turkey's crypto market is growing rapidly, concerns about regulations and market stability remain. The country is working on virtual asset guidelines to regulate the local market, aiming to improve its global standing.

#BinanceResearch #TurkeyCrypto #Turkey #türkiye

Trends in Altcoin Preferences and Crypto Market Analysis Among Turkish Investors. 🤝🇹🇷

The month of February witnessed remarkable surges in both Bitcoin and altcoins, leaving the market in a state of rapid transformation and sparking curiosity about what March holds.

In Turkey, the crypto community comprises a robust population of approximately 10 million investors. Over the last 24 hours, Turkish investors generated a substantial transaction volume of $907,645,326 on domestic exchanges, equivalent to a noteworthy ₺28,461,034,518.

According to data from 21milyon.com, SPELL emerged as the most favored altcoin project among Turkish investors, boasting a 24-hour trading volume of $2,240 million. Tether (USDT) secured the second spot with approximately ₺2,108 million in trades, while Bitcoin claimed the third position, capturing attention with its $64,000 price point.

Turkish investors are showing significant interest in meme coins and artificial intelligence coins. Meme coins like Shiba Inu, PEPE, BONK, and Dogecoin are experiencing transaction volumes in the billions. Among artificial intelligence coins, FETCH.AI and Luna Classic stand out as preferred projects among Turkish investors.

Turkish investors continue to play a strong role in the crypto market. Meme coins and artificial intelligence coins are notably captivating, offering intriguing potential returns. As the market evolves, Turkish investors remain a formidable force, navigating through dynamic trends and seizing opportunities.

Source: coin-turk

#21milyonCom #TurkeyCrypto #Turkey #SPELL

Turkey's largest cryptocurrency exchange, BtcTurk, announced it was hacked on June 22, leading to unauthorized withdrawals totaling nearly 51 million euros.

Despite the breach, BtcTurk assured users that most assets in their cold wallets are safe and that user funds will not be affected.

Deposits and withdrawals are paused as the exchange investigates the incident.

#BinanceTournament #cryptoexchange #TurkeyCrypto #HackerAlert #CryptoNewss

🔥LATEST NEWS🔥
Bitci, one of the major Turkish cryptocurrency exchange based companies, announced co-operation with the TRON DAO ecosystem to offer their users more digital assets. Other tokens that will be included in this partnership are APENFT, BTT, JUST, SUN USDD and WIN from the TRON ecosystem. Users are able to transact this token with TRY and USDT pairs.
#TrendingTopic #TronNetwork #try #TurkeyCrypto #Write2Earn

Turkey surprises investors:

No crypto tax planned! They aim to boost investment by keeping stocks and crypto gains tax-free. Regulations are coming for security and compliance, but a limited transaction tax might be considered. Industry welcomes the focus on safety and clear rules. This move positions Turkey as a potential hub for digital finance growth.
#TurkeyCrypto #cryptotax #Turkey #writetoearn