Turkey’s Ministry of Treasury and Finance is tightening regulations on crypto asset service providers in a bid to clamp down on illicit financial activities. According to the Ministry, digital asset platforms must now collect and verify more detailed information about user transactions.
This information includes obtaining a written explanation of at least 20 characters describing the purpose of each transfer, along with verifying the origin of funds involved.
Per AA, the government believes this measure will enhance transparency and help identify suspicious activity earlier in the transaction process.
Turkey Impose Withdrawal Restrictions to Disrupt Illicit Flows
In a major shift, the new regulation imposes a delay on crypto asset withdrawals. Any crypto purchased, exchanged, or deposited will be subject to a 48-hour waiting period before it can be withdrawn.
For new users making their first withdrawal, the waiting period will extend to a minimum of 72 hours. Authorities believe these delays will reduce the ability of criminal actors to quickly transfer illicit funds outside the system before they are detected or blocked.
Stablecoins are also under scrutiny in the new regulatory framework. The Ministry will impose a daily transfer cap of $3,000 and a monthly limit of $50,000 for these digital assets.
These restrictions are designed to prevent the rapid movement of large sums of money that may be connected to illegal betting, fraud, or other criminal proceeds.
However, platforms that fully comply with the travel rule, which requires collecting identifiable information about both sender and receiver will be allowed to operate with limits twice as high.
While the regulations are strict, the Ministry emphasized that they do not aim to stifle legitimate activities within the crypto space. Treasury and Finance Minister Mehmet Şimşek stated that transactions linked to market making, liquidity provision, and arbitrage will be permitted without restriction.
Notably, the Ministry issued a clear warning to platforms that fail to comply with the new rules. Sanctions may include administrative penalties, financial fines, or even the denial or cancellation of operational licenses.
Turkey Continues to Tighten Crypto Legal Framework
The latest enforcement actions build on Turkey’s broader regulatory overhaul published on March 13, 2025, through amendments to Capital Markets Law No. 6362. These changes placed crypto platforms under the oversight of the Capital Markets Board (CMB).
Two communiqués, III-35/B.1 and III-35/B.2 set out new rules for platform structure, capital requirements, internal audits, and customer protection. Platforms must be joint-stock companies with minimum capital and approved management.
Aside from this, they are also required to conduct proof-of-reserve audits, partner with CMB-approved custodians, and maintain separate accounts for user funds.
Additional rules govern asset listings, conflict of interest policies, risk disclosures, and dispute resolution processes to enhance user safety and platform transparency.
Turkey is tightening crypto AML regulations! By February 2025, all transactions over 15,000 lira will require user identification.#TurkeyCrypto #AMLhttps://t.co/krSkosCVSs
— Cryptonews.com (@cryptonews) December 25, 2024
Prior to then, Turkey introduced tighter crypto rules in February 2025 to strengthen anti-money laundering (AML) compliance and align with global standards. Announced in the last week of 2024, the regulations require crypto service providers to collect user identification for transactions over 15,000 lira (about $425).
Modeled after the EU’s MiCA framework, the rules aim to curb money laundering and terror financing, as Turkey’s presence in global crypto markets continues to grow.
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