Turkey Rolls Out Tougher Crypto Rules to Prevent Money Laundering and Terrorism Financing

Turkey introduces new AML regulations requiring user identification for crypto transactions over 15,000 lira ($425). Crypto service providers must collect information for transactions with unregistered wallet addresses starting February 2025. Turkey’s crypto market ranks fourth globally, with a trading volume of $170 billion as of September 2023. Turkey has unveiled new cryptocurrency regulations to combat money laundering and terrorism financing. The new measures were detailed in a December 25 publication in the Official Gazette of the Republic of Turkey. They introduce stricter oversight for crypto transactions exceeding 15,000 Turkish lira (approximately $425). Key Provisions and Implementation Timeline Notably, the new AML regulations are set to go into effect on February 25, 2025. Under these rules, crypto service providers must collect identifying information from users engaging in transactions above the $425 threshold. Additionally, transfers originating from unregistered wallet addresses will now require verification. If a provider cannot obtain the required details from a sender, the transaction could be categorized as “risky.” In such cas… The post Turkey Rolls Out Tougher Crypto Rules to Prevent Money Laundering and Terrorism Financing appeared first on Coin Edition .