Turkey Enacts Enhanced Cryptocurrency Transaction Regulations

Turkey has launched new anti-money laundering (AML) regulations for cryptocurrency transactions, as part of efforts to curb potential illicit activities. The new rules will come into effect on February 25, 2025.

The regulations require all cryptocurrency service providers operating in the country to identify and verify the identities of their customers. This includes gathering information such as names, addresses, and identification documents.

Furthermore, these service providers are expected to report any suspicious transactions to Turkey’s Financial Crimes Investigation Board (MASAK).

Source: coinjournal.net