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Türkiye's Treasury and Finance Ministry is preparing to roll out new regulations aimed at preventing the laundering of illicit funds—particularly from illegal betting and fraud—through cryptocurrency transactions.
According to information obtained from Ministry by Anadolu Agency, upcoming steps will require cryptocurrency service providers in Türkiye to strengthen their monitoring of transactions. These platforms will need to verify the origin of funds and the purpose of crypto transfers.
As part of this effort, all crypto asset transfers must now include transaction descriptions of at least 20 characters, submitted by the user initiating the transaction.
In an effort to curb money laundering, a delay will be imposed on crypto withdrawals that do not meet the “travel rule” compliance—a standard requiring the sharing of sender and receiver information between platforms. Crypto withdrawals will only be permitted 48 hours after the asset is purchased, traded, or deposited. For first-time withdrawals from a wallet, the delay will be extended to a minimum of 72 hours.
Authorities also plan to limit the rapid movement of suspicious funds using stablecoins—cryptocurrencies pegged to traditional assets like the U.S. dollar. Daily and monthly limits will be imposed, set at $3,000 and $50,000 respectively. However, platforms that fully comply with travel rule obligations, including verification of names, addresses, and birth details of users, may apply double these limits.
Treasury and Finance Minister Mehmet Simsek underscored that the goal is not to restrict lawful activity but to enhance oversight. “We are working to prevent the rapid transfer of criminal proceeds abroad by bringing crypto transactions under supervision, in a way that aligns with the nature of the crypto ecosystem,” he said.
Simsek also pointed out that room will be preserved for legitimate actors in the market. “For instance, users engaged in liquidity provision, market-making, or arbitrage between exchanges—who can document the origin of their funds—will be able to conduct transfers without being subject to the new limits, under the responsibility and monitoring of the platforms,” he explained.
He stressed the importance of full compliance, adding, “Fulfilling these obligations is critical not only for user protection but also for the integrity of the financial system.” Simsek warned that platforms failing to adapt to the new rules could face a range of sanctions, including administrative fines, license denials, or revocations.
Türkiye became one of the countries to regulate cryptocurrency exchanges in June 2024, when the “Amendment to the Capital Markets Law on Crypto Asset Regulations” was approved by the Grand National Assembly on June 26, establishing the country’s first legal framework for crypto assets.
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