Turkey is gearing up to implement new taxes, including a 0.03% transaction tax on cryptocurrency trading, as part of a broad fiscal reform.
This initiative is designed to tackle the budget deficit exacerbated by the 2023 earthquakes and signifies a new direction in regulating financial transactions.
A Bloomberg report highlighted the proposed changes, noting that the cryptocurrency transaction tax could significantly bolster the economy:
“The ministry is considering a 0.03% transaction tax on crypto trading, which has become popular among retail Turkish investors seeking a hedge against lira weakness and rampant inflation.
The move would bring in 3.7 billion liras a year, according to official projections.”
The Turkish government’s proposed tax reforms are projected to generate 226 billion liras ($7 billion), approximately 0.7% of the country’s gross domestic product.
The Ministry of Treasury and Finance, under Mehmet Simsek, has prepared legislation for parliamentary review by the end of June.
The 0.03% transaction tax aims to leverage the increasing popularity of crypto trading among Turkish investors who use it as a hedge against inflation and currency depreciation.
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This reform represents the most significant tax change in Turkey in the past twenty years.
Despite earlier denials of plans to tax crypto and stock gains, the Turkish government is now considering specific transaction taxes to ensure comprehensive financial regulation.
On June 5, Simsek stated that Turkey intended to “leave no area untaxed in order to provide justice and effectiveness in taxation.”
Previous plans to impose taxes on crypto and stock gains were dismissed, with only “very limited” transaction levies suggested.
However, the new proposals reflect a shift towards more extensive taxation.
President Recep Tayyip Erdogan’s ruling party, which has a parliamentary majority, is expected to pass the proposed legislation, including the 0.03% transaction tax.
Despite this, previous attempts to introduce transaction taxes have met with significant opposition, and similar political contention is anticipated this time around.
Overall, these measures mark a significant shift in Turkey’s financial policy landscape, aiming to address economic challenges and improve the effectiveness of the tax system.
To submit a crypto press release (PR), send an email to sales@cryptointelligence.co.uk.
Mommy Pepe (PEPEMOM), a new Solana memecoin that was launched in the last 24 hours, is poised to explode over 14,000% in price in the coming days.
Currently, Mommy Pepe can only be purchased via Solana decentralized exchanges, like Jupiter and Raydium, and early investors stand to make huge returns in the coming days.
Early investors in SHIB and DOGE made astronomical returns, and Mommy Pepe could become the next viral memecoin.
In fact, many early Shiba Inu and Dogecoin investors have been pouring funds into this new Solana memecoin.
Mommy Pepe launched with over $6,000 of locked liquidity, giving it a unique advantage over the majority of other new memecoins, and early investors could make huge gains.
To buy Mommy Pepe on Raydium or Jupiter ahead of the KuCoin listing, users need to connect their Solflare, MetaMask or Phantom wallet, and swap Solana for Mommy Pepe by entering its contract address – CrSXxNkYFwc7Y79qwManr3xVkV5RdBavLP9L8tc6gv3R – in the receiving field.
In fact, early investors could make returns similar to those who invested in Shiba Inu (SHIB) and Dogecoin (DOGE) before these memecoins went viral and exploded in price.
If this happens, a new wave of memecoin millionaires could be created in a matter of weeks – or potentially even sooner.
The Solana memecoin craze continues amid larger memecoins, like Shiba Inu (SHIB), Dogecoin (DOGE) and DogWifHat (WIF) trading sideways in recent weeks and losing momentum.
This is why many SHIB, DOGE and WIF investors are instead investing in new Solana memecoins, like PEPEMOM.
Lawyers for blockchain firm Ripple have urged a court to consider an “appropriate” civil penalty in its case against the United States Securities and Exchange Commission (SEC), referencing a recent settlement between the SEC and Terraform Labs.
On June 13, Ripple’s legal team filed a notice of supplemental authority in the U.S. District Court for the Southern District of New York.
They argued the SEC’s civil penalty against Ripple was “unreasonable,” citing a recent $4.5 billion settlement with Terraform Labs and its co-founder, Do Kwon.
The SEC has requested that Ripple pay approximately $2 billion in disgorgement, prejudgment interest, and civil penalties.
However, Ripple has argued for a penalty no greater than $10 million.
Ripple’s lawyers highlighted similar cases involving Block.one, Genesis Global Capital, and Telegram, but redacted specific information regarding their gross revenue.
“As Ripple’s opposition explained, in comparable (and even in more egregious) cases, the SEC has agreed to civil penalties ranging from 0.6% to 1.8% of the defendant’s gross revenues,” said Ripple’s lawyers.
“Terraform fits that pattern.
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Here, by contrast, the SEC seeks a civil penalty far exceeding that range, even though there are no allegations of fraud in this case and Institutional Buyers did not suffer substantial losses.
Terraform thus confirms that the Court should reject the SEC’s disproportionate and unprecedented request and that an appropriate civil penalty would be no more than $10 million.”
After a two-week trial in April, a jury found Kwon and Terraform liable for fraud. Meanwhile, Ripple’s case with the SEC has been ongoing since December 2020.
The regulator alleged that Ripple used XRP as an unregistered security to raise funds.
This case set a significant legal precedent when, in July 2023, Judge Analisa Torres ruled that the XRP token was not a security in regard to programmatic sales on exchanges.
In October 2023, the SEC moved to dismiss its case against Ripple CEO Brad Garlinghouse and executive chair Chris Larsen, indicating plans to discuss remedies with Ripple.
Judge Torres initially scheduled the trial between Ripple and the SEC to begin in April, but adjourned it in October with no set date for resumption.
The timing for the trial remains uncertain.
To submit a crypto press release (PR), send an email to sales@cryptointelligence.co.uk.
Spongebob Crypto could turn early investors into multi-millionaires, like Shiba Inu (SHIB) and Dogecoin (DOGE) did.
Spongebob Crypto (SPONGCRY), a new Solana memecoin that was launched today, is poised to explode over 12,000% in price in the coming days.
This is because SPONGCRY has announced its first centralized exchange listing, which will be on KuCoin.
This will give the Solana memecoin exposure to millions of additional investors, who will pour funds into the coin and drive its price up.
Currently, Spongebob Crypto can only be purchased via Solana decentralized exchanges, like Jupiter and Raydium, and early investors stand to make huge returns in the coming days.
Early investors in SHIB and DOGE made astronomical returns, and Spongebob Crypto could become the next viral memecoin.
Spongebob Crypto launched with over $6,000 of locked liquidity, giving it a unique advantage over the majority of other new memecoins, and early investors could make huge gains.
To buy Spongebob Crypto on Raydium or Jupiter ahead of the KuCoin listing, users need to connect their Solflare, MetaMask or Phantom wallet, and swap Solana for Spongebob Crypto by entering its contract address – DwX46Leu1RgP5bCG1FSa9BY7cvqmwmaFerKNy4zoUMvG – in the receiving field.
In fact, early investors could make returns similar to those who invested in Shiba Inu (SHIB) and Dogecoin (DOGE) before these memecoins went viral and exploded in price.
If this happens, a new wave of memecoin millionaires could be created in a matter of weeks – or potentially even sooner.
The Solana memecoin craze continues amid larger memecoins, like Shiba Inu (SHIB), Dogecoin (DOGE) and DogWifHat (WIF) trading sideways in recent weeks and losing momentum.
This is why many SHIB, DOGE and WIF investors are instead investing in new Solana memecoins, like SPONGCRY.
Tate Devil (TATEDEV) could become a viral memecoin, like Shiba Inu (SHIB) and Dogecoin (DOGE).
Tate Devil (TATEDEV), a Solana memecoin that was launched today, is aiming to challenge other memecoin giants, such as Shiba Inu (SHIB) and Dogecoin (DOGE).
Early investors in SHIB and DOGE made astronomical returns, and Tate Devil presents a similar opportunity.
Tate Devil has a market cap below $12,000 at the moment, meaning that when it just reaches a modest market cap of $400,000-$800,000, early investors would generate returns of 2,000%-5,000% in a matter of days or hours.
The exciting memecoin is poised to rally 11,000% in the coming two days, and Tate Devil could potentially reach a multi-million dollar market cap within a few weeks.
Currently, Tate Devil can only be purchased via Solana decentralized exchanges, like Jupiter and Raydium, and early investors stand to make huge returns in the coming days.
To buy Tate Devil on these platforms, users need to connect their Solflare, MetaMask or Phantom wallet, and swap Solana for Tate Devil by entering its contract address – AhZ1uVWztKJENXvWZLj4rDWPzobveHeSKtMJjRwV7dry – in the receiving field.
In fact, early investors could make returns similar to those who invested in Shiba Inu (SHIB) and Dogecoin (DOGE) before these memecoins went viral and exploded in price.
If this happens, a new wave of memecoin millionaires could be created in a matter of weeks – or potentially even sooner.
The Solana memecoin craze continues amid larger memecoins, like Shiba Inu (SHIB), Dogecoin (DOGE) and DogWifHat (WIF) trading sideways in recent weeks and losing momentum.
This is why many SHIB, DOGE and WIF investors are instead investing in new Solana memecoins, like TATEDEV.
Major financial institutions on Wall Street should be held responsible for bankrolling the emissions-heavy Bitcoin mining industry, according to a new report by Greenpeace USA.
The report, titled “Bankrolling Bitcoin Pollution: How Big Finance Supports a New Climate Threat,” diverges from previous Greenpeace papers on the Bitcoin mining industry. Instead of focusing on BTC miners, the report targets Wall Street and the banking sector.
Greenpeace claims that big finance supports Bitcoin mining by creating economic incentives, thereby perpetuating the ecological threat the industry represents.
The report names Trinity Capital, Stone Ridge Holdings, BlackRock, Vanguard, and MassMutual as the top five financiers of carbon pollution from Bitcoin mining companies.
Together, they accounted for over 1.7 million metric tons of CO2 in 2022, equivalent to the emissions of over 335,000 American homes using electricity for a year.
Greenpeace stated that Bitcoin mining has grown into a large commercial industry, where companies need significant capital to build facilities and purchase computing equipment.
Miners rely on support from banks and asset managers, eager for their share of the spoils.
The report says companies such as BlackRock should be accountable for fostering the mining industry: “Banks and asset managers have a duty to disclose risks to their shareholders and clients who are currently missing vital information on the climate risks from Bitcoin.”
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Greenpeace criticizes the lack of scrutiny regarding how investments from traditional finance companies enable carbon-intensive Bitcoin mining operations.
Greenpeace also states that the crypto mining industry lacks disclosure and transparency, which “enables Bitcoin mining companies to avoid accountability and obscures the scale of Bitcoin’s climate problem.”
This “lack of reputable electricity and emissions reporting” makes it difficult for investors, stakeholders, and regulators to make informed decisions if they wish to follow green policies.
In the United States, Texas has become a global hub for Bitcoin miners, absorbing many who abandoned China after its mining ban.
Greenpeace accuses Wall Street companies of financing this new gold rush, highlighting Riot Platforms’ facility near Rockdale as an example.
Citing data from the Cambridge Bitcoin Electricity Consumption Index (CBECI), Greenpeace said that the Riot facility alone accounted for 526,000 metric tons of CO2, equivalent to the carbon emitted from 100,000 U.S. homes a year.
Greenpeace highlighted the paradox of BlackRock, which is a supposed leader in sustainable investment, yet had the third-highest carbon emissions from its investments in Bitcoin mining among the 540 financial institutions in Greenpeace’s study.
The NGO emphasized that financial companies involved in Bitcoin mining should report the emissions associated with their investments and underwriting services for Bitcoin mining companies.
To submit a crypto press release (PR), send an email to sales@cryptointelligence.co.uk.
American rapper Gazzy Garcia, known as Lil Pump, recently shared an Instagram post showcasing a tattoo that appears to feature the logo of the blockchain platform Solana.
In his post, Garcia mentioned that he has sold his Solana tokens and asked his over 14 million followers for their thoughts on his new tattoos.
“Like my new tats? I sold my SOL,” Garcia wrote.
Lil Pump gained widespread fame for his 2017 single “Gucci Gang,” which reached number three on Billboard’s Hot 100 chart.
On Instagram, the reactions to Lil Pump’s tattoo were largely negative.
One fan commented that they missed the “old pump,” while another criticized the decision to replace existing tattoos with “some dumber ones.”
Some users questioned the authenticity of the tattoo, while others speculated about its potential impact on Solana’s price. One enthusiastic community member wrote, “To the moon! Gucci gain, Gucci gain, Gucci gain!”
On the platform X, a community member known as Trader Mayne criticized Garcia and his involvement in cryptocurrency.
“Your crypto grifts are as shitty as the music you make.
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“The good news is you are so bad at both you can’t make money doing either,” Mayne posted.
Garcia’s new tattoo emerges amid a broader decline in celebrity-backed crypto projects. As of June 6, many tokens launched by celebrities had fallen by at least 66%.
Tokens promoted by figures such as Caitlyn Jenner, rapper Rich the Kid, and Nigerian singer David Adedeji Adeleke Oon saw significant drops after initial gains.
Additionally, cryptocurrencies linked to boxing legend Floyd Mayweather and rappers Moneybagg Yo (SPEAK) and Trippie Red (BANDO) have plummeted by about 90%.
Despite these downturns, celebrities continue to promote new tokens.
On June 11, controversial social media personality Andrew Tate promoted a Solana-based memecoin called Daddy Tate (DADDY), which outperformed a project by Iggy Azalea despite allegations of insider trading.
Meanwhile, Ethereum co-founder Vitalik Buterin voiced his disapproval of the celebrity-driven memecoin trend, suggesting that financial ventures should only be justified if they contribute positively to society, such as by improving healthcare or promoting art and creativity.
To submit a crypto press release (PR), send an email to sales@cryptointelligence.co.uk.
King Trumpy (KINGTRU) could become a viral memecoin, like Shiba Inu (SHIB) and Dogecoin (DOGE).
King Trumpy (KINGTRU), a Solana memecoin that was launched today, is aiming to challenge other memecoin giants, such as Shiba Inu (SHIB) and Dogecoin (DOGE).
Early investors in SHIB and DOGE made astronomical returns, and King Trumpy presents a similar opportunity.
King Trumpy has a market cap below $3,000 at the moment, meaning that when it just reaches a modest market cap of $400,000-$800,000, early investors would generate returns of 10,000%-25,000% in a matter of days or hours.
The exciting memecoin is poised to rally 11,000% in the coming two days, and King Trumpy could potentially reach a multi-million dollar market cap within a few weeks.
Currently, King Trumpy can only be purchased via Solana decentralized exchanges, like Jupiter and Raydium, and early investors stand to make huge returns in the coming days.
To buy King Trumpy on these platforms, users need to connect their Solflare, MetaMask or Phantom wallet, and swap Solana for King Trumpy by entering its contract address – HexPSQ16t5VSgzEeBNyMeVqb51LtfWgK8RBGf2j4ku4J – in the receiving field.
In fact, early investors could make returns similar to those who invested in Shiba Inu (SHIB) and Dogecoin (DOGE) before these memecoins went viral and exploded in price.
If this happens, a new wave of memecoin millionaires could be created in a matter of weeks – or potentially even sooner.
The Solana memecoin craze continues amid larger memecoins, like Shiba Inu (SHIB), Dogecoin (DOGE) and DogWifHat (WIF) trading sideways in recent weeks and losing momentum.
This is why many SHIB, DOGE and WIF investors are instead investing in new Solana memecoins, like KINGTRU.
Stock trader Keith Gill, famously known for his role in the GameStop (GME) short squeeze, has increased his investment in GME. Gill, known online as “Roaring Kitty” and “DeepFuckingValue,” announced on June 13 that he purchased an additional 4 million shares of GME.
This acquisition brings his total holdings to over 9 million shares, valued at approximately $262 million at the close of that day.
Gill also closed his GME call options that were set to expire next week.
As Gill’s shares surpassed the 9-million mark, community members began speculating that he might be preparing to join the GameStop board of directors.
Citing a GameStop filing, a stock trader noted that Gill’s newly acquired shares make him the fourth-largest shareholder of GME.
This trader believes the stock’s momentum might propel GME’s price to $200. Another trader predicts that if Roaring Kitty joins the board, it could significantly increase the stock price.
Jacob Slade, founder of Mt. Zion Market Ventures, pointed out that Gill now holds the same number of shares as GameStop CEO Ryan Cohen when he joined the company.
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Additionally, a post on Gill’s official X account featuring a meme from the sitcom The Office added to the speculation.
Slade also claimed that GameStop included an Easter egg on its website referencing Roaring Kitty.
He speculated that GameStop’s annual meeting was moved to June 17, which coincides with National Take Your Cat to Work Day, potentially hinting at Gill’s involvement with the company.
On June 2, GME prices surged as Gill revealed a $180-million position in the stock.
On his Reddit, Gill disclosed a $115.7-million position in GME shares and $65.7 million in call options.
This revelation caused an immediate market reaction, with Robinhood seeing GME jump by 19% just 20 minutes after Gill posted the update.
As the prices rose, community members speculated that Gill’s shares could eventually be worth $1 billion if the prices opened at their after-hours trading rates of $67.50 on June 7.
However, the prices did not reach that level. Currently, GME is trading at $29 per share.
To submit a crypto press release (PR), send an email to sales@cryptointelligence.co.uk.
Early investors in memecoins like Shiba Inu (SHIB), Bonk (BONK) and Dogecoin (DOGE) made astronomical returns, and Cat Rides Pepe (CATRPEPE) presents a similar opportunity for a limited time.
Cat Rides Pepe (CATRPEPE), a newly launched Solana memecoin, is poised to explode over 13,000% in a matter of days, as former Shiba Inu (SHIB), Bonk (BONK) and Dogecoin (DOGE) investors pour funds into this new token.
CATRPEPE will be listed on KuCoin, one of the largest centralized exchanges in the world, within a few days – and this is a massively bullish development for the token, as millions of new investors will easily be able to buy Cat Rides Pepe.
Currently, Cat Rides Pepe can only be purchased via Solana decentralized exchanges, like Jupiter and Raydium, and early investors stand to make huge returns in the coming days.
To buy CATRPEPE on these platforms, users need to connect their Solflare, MetaMask or Phantom wallet, and swap Solana for Cat Rides Pepe by entering its contract address – 4x2Y4rTpzSuUVnjew4qzjqpzRbvdBwtoVHFLpgnM1NK3 – in the receiving field.
CATRPEPE currently has a market cap of just under $10,000, with over $3,000 in locked liquidity, meaning it has huge upside potential.
Early investors could make returns similar to those who invested in Shiba Inu (SHIB), Dogecoin (DOGE) and Bonk (BONK) before these memecoins went viral and exploded in price.
If this happens, a new wave of memecoin millionaires could be created in a matter of weeks – or potentially even sooner.