Turkey has recently decided to abandon plans for an additional tax package that would have imposed levies on profits from stock trading and cryptocurrency. This announcement was made by Vice President Cevdet Yilmaz, who clarified that there is currently no agenda for a stock tax. He indicated that discussions regarding this tax had previously taken place but have since been removed from the government's agenda. Instead, the focus will shift towards narrowing existing tax exemptions. This decision follows a previous postponement in June, when the Turkish government opted to delay plans to tax stocks due to a downturn in the equity market, which was influenced by the potential for new taxes. Turkish Finance Minister Mehmet Simsek had stated at that time that the draft tax study for the stock exchange would be re-evaluated based on feedback from relevant stakeholders. Globally, countries such as the U.K. and Japan are also exploring how to effectively tax cryptocurrencies and whether reforms are necessary in this area. The Turkish Presidency has not yet responded to requests for further comments on this matter. CoinDesk, the media outlet reporting this news, is recognized for its coverage of the cryptocurrency industry and adheres to strict editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, which operates a regulated digital assets exchange and has significant interests in blockchain and digital assets. The organization maintains its journalistic independence through an editorial committee, despite its ownership structure.

North Korea has successfully infiltrated the cryptocurrency industry by employing IT workers who operate under false identities, leading to significant cybersecurity and legal risks for various blockchain firms. A CoinDesk investigation revealed that over a dozen crypto companies, including notable projects like Injective, ZeroLend, and Sushi, unknowingly hired these North Korean workers, who managed to pass interviews and reference checks while presenting authentic-looking work histories. The hiring of North Korean workers is illegal in the U.S. and other countries due to sanctions against the Democratic People's Republic of Korea (DPRK). These workers are believed to generate substantial revenue for the North Korean regime, with estimates suggesting they contribute up to $600 million annually to fund the country's nuclear weapons program. The investigation highlighted that many companies faced security breaches after hiring these workers, as North Korean hackers often target firms through their employees. Zaki Manian, a blockchain developer, shared his experience of inadvertently hiring two North Korean IT workers while developing the Cosmos Hub blockchain. Similarly, Stefan Rust, founder of Truflation, recounted how he hired a developer named "Ryuhei," who claimed to be based in Japan. Rust later discovered that Ryuhei and several other team members were actually from North Korea, part of a broader scheme to secure remote jobs and funnel earnings back to Pyongyang. The investigation found that North Korean IT workers are more prevalent in the crypto sector than previously understood, with many hiring managers acknowledging they had encountered suspected North Korean applicants. The ease of remote hiring in the crypto industry, combined with a lack of rigorous background checks, has made it a prime target for North Korean infiltration. CoinDesk's findings also revealed that many of these workers were able to conduct their tasks effectively, leading to a false sense of security among employers. However, evidence indicated that some of these employees funneled their wages to blockchain addresses linked to the North Korean government. In several instances, companies that employed DPRK IT workers later experienced hacking incidents, with some attacks directly traced back to these employees. Despite the legal implications of hiring North Korean workers, U.S. authorities have not prosecuted any crypto companies for such actions, often viewing them as victims of sophisticated identity fraud. The investigation underscored the ethical concerns surrounding the employment of North Korean workers, who are often exploited by their regime, retaining only a fraction of their earnings. CoinDesk identified numerous companies that had employed suspected DPRK IT workers, with many coming forward to share their experiences in hopes of raising awareness. The investigation also highlighted the challenges of identifying these workers, as they often used convincing fake documents and maintained a professional demeanor during their employment. The infiltration of North Korean IT workers into the crypto industry poses a dual threat: it not only violates international sanctions but also endangers the security of the companies involved. As the investigation concluded, it became evident that the connection between North Korean IT workers and hacking activities is more pronounced than many in the industry had previously believed, with social engineering tactics being a common method of attack. In a striking coincidence, as the article was being finalized, Truflation's Rust experienced a hack that resulted in the loss of millions of dollars, further illustrating the ongoing risks associated with North Korean infiltration in the crypto space. The investigation serves as a cautionary tale for the industry, emphasizing the need for more stringent hiring practices and awareness of the potential threats posed by remote workers from sanctioned nations.