Türkiye Approves AML Requirements for Crypto Transactions

From February 25, 2025, Turkey will require users conducting cryptocurrency transactions over 15,000 TRY (approximately $425) to provide identification information to digital asset service providers. This regulatory measure aims to strengthen Anti-Money Laundering (AML) efforts and combat the financing of terrorism.

Under the new guidelines, insufficient information about the sender will classify transactions as “risky,” potentially leading to rejection. The document highlights that if the necessary data cannot be obtained, transactions may be refused, restrictions might be imposed, or business relationships terminated. However, crypto service providers are not obligated to collect sender identification for transactions below the specified threshold.

These changes align with broader legislative reforms, which include the December 30 implementation of MiCA regulations. Turkey is one of the largest players in the global cryptocurrency market, ranking fourth after the United States, India, and the United Kingdom. According to analytics firm Chainalysis, the country remains a significant hub for digital asset activity.

In an ongoing effort to shed its “gray list” status under the Financial Action Task Force (FATF), Turkey is intensifying its financial oversight, with recent reforms announced by the finance ministry to meet global regulatory standards. The country has been on the FATF gray list since October 2021, prompting efforts to improve transparency and accountability in the cryptocurrency sector.

This move reflects Turkey’s broader push toward tighter regulation, following reports earlier this year highlighting the government’s intention to impose stricter digital asset policies. The updated rules are expected to create a more secure and regulated environment for cryptocurrency transactions while helping authorities prevent illicit activities.

Keep up with the latest updates in the cryptocurrency industry to stay informed about regulatory changes and market trends.