Turkey to Implement New Crypto AML Regulations

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During the last week of 2024, Turkey announced new regulations for cryptocurrencies, taking inspiration from similar developments in major jurisdictions like Europe.

The new rules, set to be implemented by Feb. 25, 2025, state that individuals must disclose their personal information to crypto service providers for transactions over 15,000 Turkish lira ($425).

The aim of the Anti-Money Laundering regulation is to prevent the use of cryptocurrencies for illegal activities such as money laundering and terrorism financing. Transactions below the $425 threshold are not subject to this requirement.

This move by Turkey coincides with a global trend towards increased crypto regulation, with the implementation of the EU’s MiCA bill on Dec. 30, which is the first comprehensive regulatory framework for cryptocurrencies.

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