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Turkey has recently enforced stricter cryptocurrency Anti-Money Laundering (AML) rules, which will have significant implications for its citizens’ digital assets. As of February 2025, individuals conducting transactions exceeding 15,000 Turkish Liras ($425 USD) will be required to provide identifying information to crypto service providers.
This new regulatory framework aims to enhance transparency and reduce the risks associated with illicit activities such as money laundering and terrorism financing. The move is part of Turkey’s efforts to strengthen its position in the global cryptocurrency landscape.
The country’s bold stance on regulation comes amidst a growing trend towards stricter oversight, with both Europe’s Markets in Crypto-Assets (MiCA) framework set to take effect in December 2024 and the U.S. government considering similar measures.
In light of these developments, Turkey’s move is not surprising. However, it does pose some concerns for smaller crypto firms and their clients. The new regulations empower providers to classify transactions as “risky” and restrict them if adequate information is unavailable. Furthermore, companies must secure licenses from the Capital Markets Board (CMB) to operate, with oversight shared between the Financial Crimes Investigation Board and TÜBİTAK, which will audit technological infrastructure.
While these measures aim to push consumer protection and counter financial crimes, experts warn that high compliance costs could hinder smaller startups, potentially giving larger international firms an edge in the Turkish market.
Source: ambcrypto.com
