Turkey rolls out new crypto AML regulations

• Turkey
  has
  introduced
  new
  regulations
  for
  crypto
  transactions
  to
  battle
  money
  laundering
  and
  terrorism
  financing.
• New
  AML
  regulations
  go
  into
  effect
  on
  February
  25,
  2025.

Turkey’s
cryptocurrency
regulation
landscape
continues
to
evolve,
with
new
regulatory
developments
around
crypto
transactions
and
anti
money
laundering.

On
Dec.
25,
the
Official
Gazette
of
the
Republic
of
Turkey
published
new
AML
rules.
Under
these
regulations,
users
transacting
over
15,000
Turkish
liras
($425)
have
to
share
identification
details
with
cryptocurrency
service
providers.

The
new
regulation
targets
the
prevention
of
crypto
use
in
money
laundering
and
terrorism
financing.

Notably,
crypto
service
providers
in
the
country
are
not
mandated
to
collect
customer
transaction
information
when
amount
involved
is
below
$425.

The
new
regulations
take
effect
on
February
25,
2025.

Crypto
legal
in
Turkey

As
Turkey
looks
to
curb
potential
illicit
crypto
transactions,
it’s
effort
reflects
trends
around
the
globe.

Most
notable
is
the
European
Union’s
Markets
in
Crypto-Assets
(MiCA)
regulation.
MiCA
comes
into
effect
on
Dec.
30,
which
has
several
crypto
providers
scrambling
to
comply.
Several
exchanges
have
delisted
non-compliant
stablecoins.

Turkey
allows
crypto
users
to
hold
and
trade.
The
country
granted

crypto
legal
status
in
June
2024.

However,
a
ban
on
the
use
of
crypto
assets
for
payments
has
been
in
place
since
2021.

A
recent
proposal
has
also
looked
to
introduce
a
0.03%
transaction
tax,
with
this
aimed
at
boosting
the
county’s
budget.
Turkey
currently
has
no
crypto
profit
tax.