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Crypto Provisions Changing in Turkiye: Newest Statement

<p class="text-left mb-4 ">As discussions around <a href="https://jrkripto.com/tr/analytics" target="_blank" rel="noreferrer" class="text-primary underline">cryptocurrency </a>regulations in Turkey continue, a last-minute development has drawn attention. AK Party Member of Parliament Ömer İleri announced that certain provisions related to crypto assets in the bill currently being discussed in the Turkish Grand National Assembly (TBMM) are being reconsidered.</p><p class="text-left mb-4 ">İleri stated that, taking into account public sensitivities, efforts are ongoing to revise the relevant articles through amendment proposals. He emphasized that work on restructuring these provisions is still in progress.</p><p class="text-left mb-4 ">İleri’s remarks come amid growing debate in recent days over the proposed crypto tax regulation. The statement also underlined that the process is not yet finalized and that the public will be informed once the work is completed.</p><h2 class="text-left text-foreground text-3xl font-bold mb-3 mt-1"><strong>Crypto tax regulation back on the table</strong></h2><p class="text-left mb-4 ">The bill on the parliamentary agenda introduces a tax on crypto asset transactions. Accordingly, a “crypto asset transaction tax” is planned to be applied to crypto sales and transfers. The proposed rate is 0.3 per thousand (0.03%), calculated based on either the transaction amount or the market value at the time of transfer.</p><p class="text-left mb-4 ">Another notable aspect of the proposal is that no expenses or tax deductions will be allowed from the tax base. Additionally, the tax will be calculated monthly and must be declared and paid by the 15th of the following month. This could create a significant operational burden for crypto asset service providers.</p><p class="text-left mb-4 ">The regulation is not limited to transaction tax alone. It also includes comprehensive provisions on the taxation of income derived from crypto assets. Under the proposal, a 10% withholding tax is planned on income generated through platforms. This deduction would apply regardless of the investor’s status.</p><h2 class="text-left text-foreground text-3xl font-bold mb-3 mt-1"><strong>What do the sector and investors expect?</strong></h2><p class="text-left mb-4 ">Companies operating in the crypto market and individual investors are closely watching the final form of the regulation. Tax rates, implementation details, and obligations imposed on platforms are seen as critical factors for the future of the sector.</p><p class="text-left mb-4 ">İleri’s statement signaled that changes may be made to the current draft, offering some relief to the market. The fact that public concerns are being taken into account has strengthened expectations that the regulation could take a more balanced shape. However, it remains difficult to draw firm conclusions until the final text is revealed.</p><p class="text-left mb-4 ">Meanwhile, for the regulation to enter into force, it must first be approved by the TBMM General Assembly and then published in the Official Gazette. Following this process, implementation details are expected to be determined by the Ministry of Treasury and Finance.</p><h2 class="text-left text-foreground text-3xl font-bold mb-3 mt-1"><strong>Tax rates could change</strong></h2><p class="text-left mb-4 ">The proposal grants broad authority to the President to adjust tax rates. Accordingly, the rates can be reduced to zero or increased several times over. This flexibility suggests that a more dynamic tax policy could be implemented depending on market conditions.</p><p class="text-left mb-4 ">Similarly, the Ministry of Treasury and Finance will be authorized to determine the procedures and principles of implementation. This indicates that the technical details of the regulation will continue to evolve over time.</p>

25 Mar 2026

Bhutan Sells Bitcoin: Reserves Rapidly Dwindling

<p class="text-left mb-4 ">The Kingdom of Bhutan has entered a notable period of unwinding in its Bitcoin holdings. According to recent on-chain data, the country transferred approximately 519.7 BTC from its main wallet addresses, adding about $37 million worth of additional supply to the market. With this latest transaction, Bhutan's total Bitcoin reserves have fallen to 4,453 BTC, while the value of the assets held by the country is approximately in the $315-318 million range. Arkham Intelligence data reveals that some of the transferred Bitcoins went to addresses linked to Singapore-based crypto trading company QCP Capital. This indicates that these transactions were not only a redistribution within wallets but also potentially intended for sale or liquidity management.</p><h2 class="text-left text-foreground text-3xl font-bold mb-3 mt-1">The pace of selling accelerated in March</h2><p class="text-left mb-4 ">Bhutan's transactions throughout March indicate a remarkable acceleration. In just the last few weeks, the country transferred approximately $110 million worth of Bitcoin in total. In the 24-hour period leading up to March 18th, $72 million worth of <a href="https://jrkripto.com/tr/coin/btc" target="_blank" rel="noreferrer" class="text-primary underline">BTC</a> was moved in six separate transactions, while on March 9th, a transfer of approximately $11.8 million was recorded.</p><p class="text-left mb-4 "> <figure class="my-6"> <img src="https://minio-api-1.jrkripto.com/blog/019d244e-d125-7e64-bbae-9d8d1fd40635-9abb3a41.webp" alt="019d244e-d125-7e64-bbae-9d8d1fd40635.png" width="auto" height="auto" class="w-full rounded-lg border" /> </figure> </p><p class="text-left mb-4 ">The fact that only around 284 BTC was transferred in February makes the increase in March even more significant. This picture shows that Bhutan has entered a systematic process of reducing its Bitcoin reserves.</p><p class="text-left mb-4 ">According to Arkham's analysis, Bhutan generally prefers to make tiered sales in the range of $5 to $10 million. However, the significant increase in transfer volume in the last two weeks indicates that this strategy has entered a more aggressive phase.</p><h2 class="text-left text-foreground text-3xl font-bold mb-3 mt-1">65% Drop from Peak</h2><p class="text-left mb-4 ">Bhutan's Bitcoin holdings peaked at over 13,000 BTC in late 2024. Today, reserves have decreased by approximately 65%. This decrease reflects both regular sales and the use of reserves due to the country's financial needs. Bhutan views its Bitcoin holdings not only as an investment vehicle but also as a source of financing for economic development projects. Specifically, the Gelephu Mindfulness City (GMC) project plans to utilize crypto reserves. The country also aims to create a strategic crypto reserve including assets such as Bitcoin, Ethereum, and BNB. </p><h2 class="text-left text-foreground text-3xl font-bold mb-3 mt-1">A model extending from mining to development</h2><p class="text-left mb-4 ">Since 2019, Bhutan has been among the leading countries investing in Bitcoin mining. The country sustains its mining activities with low-cost and environmentally friendly energy thanks to hydroelectric power plants built on rivers fed by glaciers.</p><p class="text-left mb-4 ">In 2023, the state sovereign wealth fund Druk Holding and Investments (DHI) decided to expand its mining capacity by forming a $500 million partnership with Bitdeer. This model shows that Bhutan has made crypto directly a part of its economic growth strategy. </p><h2 class="text-left text-foreground text-3xl font-bold mb-3 mt-1">Market impact and weakening demand signals</h2><p class="text-left mb-4 ">Bhutan's sales coincide with a fragile period for the Bitcoin market. On-chain data signals weakening demand. Glassnode's Accumulation Trend Score indicator is hovering near zero, revealing that investors are more inclined towards distribution than accumulation. Additionally, large investor activity has fallen to its lowest levels since 2023. CryptoQuant's Network Activity Index data also shows a decline in overall network activity and weakening structural demand.</p>

25 Mar 2026

CLARITY Draft Leaked: Signal of a Ban on Stablecoin Yields

<p class="text-left mb-4 ">The leak of the CLARITY Act draft, which closely concerns the stablecoin market in the US, has caused sharp fluctuations in both crypto companies and markets. The possibility of regulation directly targeting the revenue model of Circle, the issuer of <a href="https://jrkripto.com/tr/coin/usdc" target="_blank" rel="noreferrer" class="text-primary underline">USDC</a>, in particular, led to a significant drop in the company's share value.</p><p class="text-left mb-4 "> <figure class="my-6"> <img src="https://minio-api-1.jrkripto.com/blog/ekran-g-r-nt-s-2026-03-25-144649-0810ce4d.webp" alt="Ekran görüntüsü 2026-03-25 144649.png" width="auto" height="auto" class="w-full rounded-lg border" /> </figure> </p><h2 class="text-left text-foreground text-3xl font-bold mb-3 mt-1">Circle Shares Fall Sharply</h2><p class="text-left mb-4 ">Following the leaked draft, Circle Internet Group shares fell by approximately 20%, from $126.64 to $101.17. This drop wiped out approximately $5.6 billion from the company's market capitalization. Similarly, Coinbase shares also lost 11% of their value.</p><p class="text-left mb-4 ">The main reason for this sharp market movement was the signals that the CLARITY Act could prohibit offering "interest-like returns" on stablecoins. According to the draft text, all models that directly or indirectly generate interest income through stablecoins are targeted. This is particularly critical for Circle, as approximately 96% of the company's revenue comes from interest income earned from its USDC reserves. Some market commentators emphasize that the decline is not related to ARK Invest's sales. Despite Cathie Wood's $5.9 million sale on March 20th, the main trigger is said to be regulatory risk. </p><h2 class="text-left text-foreground text-3xl font-bold mb-3 mt-1">What does the yield ban mean?</h2><p class="text-left mb-4 ">The draft regulation aims to prevent stablecoins from becoming a structure similar to interest-bearing deposits in banks. In this context, all incentive models that are "economically or functionally equivalent to interest" may be included in the ban.</p><p class="text-left mb-4 ">However, a completely incentive-free structure is not envisioned. Rewards based on user behavior; for example, mechanisms similar to staking, loyalty programs, or incentives given in exchange for providing liquidity may be allowed within certain limits. However, how these limits will be drawn is not yet clear.</p><p class="text-left mb-4 ">The US Securities and Exchange Commission (SEC), the Commodity Futures Commission (CFTC), and the Treasury Department are expected to define the framework of these incentive models within a year after the regulation comes into effect. During the same period, it is also planned to create additional rules against "attempts to circumvent the ban". </p><h2 class="text-left text-foreground text-3xl font-bold mb-3 mt-1">Disagreements deepen within the sector</h2><p class="text-left mb-4 ">The draft text has led to differing interpretations within the sector. Some experts believe the regulation is more restrictive than previous discussions with the White House. In particular, it is noted that the phrase "economic equivalence" can be interpreted broadly and could put many business models at risk.</p><p class="text-left mb-4 ">Another group argues that this is an expected framework. According to this view, the regulation aims to protect the use of stablecoins as a means of payment while preventing them from being transformed into an interest-bearing investment vehicle. This approach means that the boundaries between traditional finance and crypto are drawn more clearly.</p>

25 Mar 2026

Mastercard and Western Union Users Flocked to Solana

<p class="text-left mb-4 ">The Solana ecosystem is making headlines with a new, noteworthy move on the corporate side. Global payment giants like Mastercard, Western Union, and Worldpay are among the first users of a next-generation platform developed by the Solana Foundation. Called the “<a href="https://jrkripto.com/tr/coin/sol" target="_blank" rel="noreferrer" class="text-primary underline">Solana </a>Developer Platform” (SDP), this infrastructure stands out as an AI-powered toolset aimed at facilitating blockchain product development for organizations. According to Tuesday's announcement, SDP brings together different infrastructures within the Solana ecosystem under one roof, offering organizations a simpler and more integrated development experience. The platform focuses on areas such as the tokenization of real-world assets (RWA), payment systems, and the creation of on-chain financial products.</p><h2 class="text-left text-foreground text-3xl font-bold mb-3 mt-1">A New Era Focused on Stablecoins and Tokenization</h2><p class="text-left mb-4 ">Mastercard plans to use SDP specifically to expand its work in the stablecoin field. Raj Dhamodharan, the company's Vice President of Blockchain and Digital Assets, emphasized that practical use cases will be decisive in the future of digital assets. According to Dhamodharan, the speed and programmability advantages of blockchain technology, combined with Mastercard's global network, create a new payment layer. In this context, Mastercard aims to offer direct stablecoin settlement on select blockchain networks, starting with Solana. This approach is seen as a significant step in accelerating the integration of blockchain with traditional financial infrastructures. The technical infrastructure offered by SDP consists of three main modules. The "Issuance" module enables the issuance of assets such as GENIUS-compatible stablecoins and tokenized deposits. The "Payments" module supports on-ramp and off-ramp transactions by managing fiat and stablecoin flows; it also covers B2B payments. The "Trading" module offers advanced financial functions such as atomic swaps, custody solutions, and foreign exchange transactions. </p><h2 class="text-left text-foreground text-3xl font-bold mb-3 mt-1">Western Union: "Not a replacement, but an improvement"</h2><p class="text-left mb-4 ">On the Western Union side, the blockchain approach is more focused on modernizing existing systems. Malcolm Clarke, the company's Vice President of Digital Assets, stated that SDP offers a layer that strengthens existing money transfer infrastructures. According to Clarke, the Solana Developer Platform makes cross-border money transfers, where Western Union is already strong, even more efficient. Thanks to its API-based structure, fiat and stablecoin flows can be managed end-to-end. This enables the company to develop new use cases and move more transactions to the blockchain.</p><h2 class="text-left text-foreground text-3xl font-bold mb-3 mt-1">AI integration and broad ecosystem support</h2><p class="text-left mb-4 ">One of the notable aspects of SDP is its direct compatibility with artificial intelligence tools. The platform can work "out of the box" with coding tools such as Claude Code developed by Anthropic and Codex by OpenAI. This integration allows developers and institutions to bring blockchain-based products to life much faster. More than 20 infrastructure partners are involved in the platform's launch. On the node and wallet infrastructure side, there are major custody service providers such as Anchorage Digital, BitGo, and Coinbase, while non-custodial solutions such as Fireblocks also offer support. On the compliance side, companies such as Chainalysis, Elliptic, TRM Labs, and Range are involved; It provides services for KYC, KYB, and FATF Travel Rule requirements. On the payment side, companies like Bridge, BVNK, Lightspark, Modern Treasury, and MoonPay support SDP's financial flows. </p><h2 class="text-left text-foreground text-3xl font-bold mb-3 mt-1">Institutional interest continues unabated</h2><p class="text-left mb-4 ">All these developments show that institutional interest in tokenization and stablecoin usage continues to grow. Representing real-world assets on the blockchain is creating a new wave of transformation in the financial sector. Although Solana's share in this market is still limited, the speed and low-cost advantages offered by the platform make it stand out.</p><p class="text-left mb-4 ">Last week, Mastercard announced that it would acquire BVNK in a deal that could reach up to $1.8 billion, and Stripe's earlier acquisition of Bridge also shows that competition in this area is intensifying. The intersection of corporate finance and blockchain is expanding day by day.</p>

25 Mar 2026

Rare Event on the Bitcoin Network: A Two-Block “Reorg” Occurred

<p class="text-left mb-4 ">The Bitcoin network witnessed a rare technical event on Monday. A temporary fork, caused by different mining pools producing blocks almost simultaneously, resulted in a two-block "reorganization" (reorg). The event once again demonstrated the network's workings and how its consensus mechanism operates. According to the data, the process began with the formation of competing chains at block heights 941881 and 941882. Foundry USA Pool created its own chain, while AntPool produced an alternative block at the same height. Then ViaBTC pushed AntPool's chain one block further. Simultaneously, Foundry continued to expand its own branch. This short-lived competition presented a different picture than the forks that are sometimes seen on the Bitcoin network but are usually limited to a single block. This time, the competition lasted for two blocks, and therefore it was recorded as a "two-block reorg". </p><p class="text-left mb-4 "> <figure class="my-6"> <img src="https://minio-api-1.jrkripto.com/blog/ekran-g-r-nt-s-2026-03-24-163605-a1c27b28.webp" alt="Ekran görüntüsü 2026-03-24 163605.png" width="auto" height="auto" class="w-full rounded-lg border" /> </figure> </p><h2 class="text-left text-foreground text-3xl font-bold mb-3 mt-1">The chain with the most manpower won</h2><p class="text-left mb-4 "><a href="https://jrkripto.com/tr/coin/btc" target="_blank" rel="noreferrer" class="text-primary underline">Bitcoin's </a>fundamental consensus rule is based on the chain with the highest total "proof of work" value being considered valid. The same mechanism came into play in this case.</p><p class="text-left mb-4 ">Foundry USA Pool's continued production of blocks made its own chain "heavier." Having achieved a series of seven blocks in total, Foundry surpassed competing chains. As a result, the nodes on the network accepted this chain with more manpower as the "canonical," or valid, chain. With this development, blocks produced by AntPool and ViaBTC became "stale blocks." That is, although technically valid, they did not earn rewards because they were outside the final chain.</p><h2 class="text-left text-foreground text-3xl font-bold mb-3 mt-1">The balance of mining power was decisive</h2><p class="text-left mb-4 ">It is believed that Foundry's high hash rate played a role in its victory. According to current data, Foundry USA Pool controls approximately 32.2% of the Bitcoin network's hash power. In contrast, AntPool's share is 15.7%, while ViaBTC's is 7.2%. This distribution increases the probability of larger pools finding consecutive blocks during short-term forks. However, this alone does not indicate an abnormal development. According to experts, each miner's probability of finding the next block is directly proportional to their hash rate.</p><h2 class="text-left text-foreground text-3xl font-bold mb-3 mt-1">Why is a two-block reorg rare?</h2><p class="text-left mb-4 ">Single-block reorganizations can occur from time to time on the Bitcoin network. The main reason for this is that blocks reach different nodes at different times and there is simultaneous block production.</p><p class="text-left mb-4 ">However, two-block reorgs are less common. For this to happen, competing chains need to run close to each other for at least two blocks. This has a lower probability in terms of both timing and network latency. </p><h2 class="text-left text-foreground text-3xl font-bold mb-3 mt-1">No transactions were lost</h2><p class="text-left mb-4 ">One of the most frequently asked questions in such events is the fate of transactions. However, no transactions were lost during this reorg. Transactions within stale blocks were either already on the winning chain or returned to the transaction pool, pending processing in subsequent blocks. This once again demonstrated the Bitcoin network's resilience in maintaining data integrity. While this two-block reorg might seem unusual at first glance, it's actually a natural part of Bitcoin's design. The network automatically selects the strongest chain in response to short-term forks, reverting to a single, accurate historical record. This event serves as a recent example of the system working as expected.</p>

24 Mar 2026

Regulation

Crypto Provisions Changing in Turkiye: Newest Statementabout 4 hours ago

BTC

Bhutan Sells Bitcoin: Reserves Rapidly Dwindlingabout 6 hours ago

Regulation

CLARITY Draft Leaked: Signal of a Ban on Stablecoin Yieldsabout 7 hours ago

Blockchain, Altcoin

Mastercard and Western Union Users Flocked to Solanaabout 10 hours ago

BTC

Rare Event on the Bitcoin Network: A Two-Block “Reorg” Occurred1 day ago

Regulation

Crypto Provisions Changing in Turkiye: Newest Statementabout 4 hours ago

BTC

Bhutan Sells Bitcoin: Reserves Rapidly Dwindlingabout 6 hours ago

Regulation

CLARITY Draft Leaked: Signal of a Ban on Stablecoin Yieldsabout 7 hours ago

Blockchain, Altcoin

Mastercard and Western Union Users Flocked to Solanaabout 10 hours ago

BTC

Rare Event on the Bitcoin Network: A Two-Block “Reorg” Occurred1 day ago

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