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Turkey has introduced stringent regulations to combat money laundering and terrorism financing in the cryptocurrency sector, aligning with global standards.
Key Provisions of the New Regulations
The regulations, effective from February 25, 2025, require users conducting transactions over 15,000 Turkish liras (approximately $425) to provide identifying information to crypto service providers. This measure aims to enhance transparency and prevent illicit activities within the crypto market.
Enhanced Oversight of Crypto Platforms
The Capital Markets Board (CMB) now has full oversight of crypto asset service providers (CASPs), including exchanges, custodians, and wallet services. This ensures compliance with national and international standards, strengthening the integrity of Turkey’s cryptocurrency market.
Global Alignment and Future Implications
By implementing these measures, Turkey aligns its crypto framework with international regulations, such as Europe’s Markets in Crypto-Assets (MiCA) framework. This alignment is expected to attract institutional investors, fostering a more secure and robust trading environment in the country.
