The Turkish government is preparing to implement new stringent measures to combat money laundering through crypto transactions.
In particular, the authorities intend to strictly regulate operations related to crimes such as illegal gambling and fraud, critical points in the illicit use of crypto exchange platforms.
Stringent measures on crypto transactions to combat money laundering
The Ministry of Treasury and Finance of Turkey has announced a series of measures aimed at the cryptocurrency sector to curb the flow of money laundering generated by criminal activities.
These measures focus on Bitcoin transactions and other digital assets, imposing stricter obligations on platforms that offer exchange and transfer services.
A key element concerns the request to gather detailed information about the origin of the sums and the destination of the transferred crypto.
Consequently, for each movement, the client will need to provide a transaction description of at least 20 characters, in order to track each operation more precisely.
The so-called “travel rule” – a regulation that requires the sharing of sender and recipient data in transactions – will be extended and applied rigorously.
In particular, crypto withdrawal operations not subject to this rule will be subjected to restrictive time limits.
- Each withdrawal from an account must occur at least 48 hours after the purchase, exchange, or deposit of the digital asset.
- At the first withdrawal from an account, however, the limit will be extended to 72 hours.
These timeframes aim to reduce the possibility that suspicious funds are quickly moved out of the system, thus complicating their investigation and recovery.
The fight against money laundering with Bitcoin and other cryptocurrencies also extends to the so-called stablecoin, assets whose value is pegged to a currency or real good to ensure stability.
The Turkish government has imposed strict limits on stablecoin transfers to contain suspicious flows.
- A daily limit of 3,000 dollars for transactions in stablecoin.
- A monthly cap set at 50,000 dollars.
Platform operators who strictly apply the travel rule, collecting complete sender and recipient data (including name, residential address, date, and place of birth), can increase these limits up to double, rewarding regulatory compliance.
This system creates an incentive for operators to comply with transparency and traceability obligations.
Consequences for non-compliance
The Minister Mehmet Şimşek emphasized that these regulations aim to effectively monitor the flow of cryptocurrencies while respecting the specific nature of the crypto ecosystem.
He has indeed stated that crypto service providers – such as exchanges and wallets – will be responsible for overseeing operations, conducting checks, and ensuring that no illicit use is favored.
Furthermore, it was specified that users engaged in lawful and documented activities, such as liquidity, market making, and arbitrage between markets, will not be subject to the imposed time constraints and limits, thus allowing a balance between security and financial innovation.
This approach protects genuine operations without hindering the development of the sector.
The rigorous implementation of the new rules also entails heavy administrative and legal sanctions for operators who do not meet the requirements.
The Minister emphasized that crypto service providers who prove to be non-compliant risk not only fines but also the revocation or non-issuance of operational licenses.
This measure aims to strengthen the trust of users and institutions in the cryptocurrency market and preserve the integrity of the national financial system.
Consequently, only platforms that operate in full compliance with regulations will be able to continue operating freely.
The message from the Ministry is clear: a regulated and transparent environment is essential for the sustainable growth of cryptocurrencies.
The measures aim to increase user security, protecting them from the risk of coming into contact with illicit funds, while at the same time defending the national financial system from abuses.
Towards Greater Regulation of Crypto in Turkey
The new rules outline a clear path for the regulation of the cryptocurrency market. They are designed to:
- Prevent money laundering and fraud through Bitcoin and stablecoin;
- Ensure the detailed traceability of all transactions;
- Apply time limits for withdrawals and monetary limits for transfers;
- Encourage compliance through incentives and severe penalties in case of violation;
- Protect legitimate activities without blocking technological innovation.
In this way, Turkey intends to balance the need for security with the growing importance of the crypto sector in the global digital economy.
The implementation of these measures constitutes a significant turning point in the control of cryptocurrencies, encouraging operators to improve internal governance and transparency.
In this context, users and investors are called to operate with greater awareness and to choose platforms that comply with the new regulations.
Furthermore, the authorities will continue to monitor the effectiveness of the rules, enhancing supervisory tools to maintain high safety standards.
As a result, the cryptocurrency sector is moving towards a more secure and regulated future, where innovation will coexist with the protection of financial integrity.
For those operating in the crypto world, it is therefore essential to constantly update themselves on legislative news and comply with the provisions, thus contributing to a more transparent and reliable market for everyone.