- Turkey has launched new rules on crypto transactions in an effort to fight cash laundering and terrorist financing.
- The brand new AML rules come into pressure on February 25, 2025.
Turkey's cryptocurrency regulatory panorama continues to evolve, with new regulatory developments concerning crypto transactions and anti-money laundering.
On December 25, the Official Gazette of the Republic of Türkiye printed new AML guidelines. Underneath these rules, customers making transactions over 15,000 Turkish liras ($425) should share their credentials with cryptocurrency service suppliers.
The brand new regulation goals to forestall the usage of crypto in cash laundering and terrorist financing.
Notably, crypto service suppliers within the nation aren’t obliged to gather data on buyer transactions when the quantity concerned is lower than $425.
The brand new regulation comes into pressure on February 25, 2025.
Authorized crypto in Türkiye
As Turkey seeks to curb potential illicit crypto transactions, its efforts replicate international tendencies.
Most notable is the European Union's regulation of markets in crypto-assets (MiCA). MiCA goes into impact on December 30, forcing a number of crypto suppliers to return into compliance. A number of exchanges have delisted non-compliant stablecoins.
Turkey permits crypto customers to carry and commerce. The nation granted authorized standing to crypto in June 2024.
Nonetheless, a ban on utilizing crypto property for funds has been in impact since 2021.
A latest proposal additionally considers introducing a 0.03% transaction tax, in an effort to spice up the county's price range. Turkey at the moment has no tax on crypto income.
