Turkey to tighten cryptocurrency controls from 2025
Date: 2024-12-26 Author: Gabriel Deangelo Categories: IN WORLD
The new rules require users making transactions over 15,000 Turkish lira (around $425) to verify their identity through cryptocurrency service providers. In addition, transactions from wallets not registered in the system will require preliminary verification.
In cases where the sender does not provide the necessary data, the transaction will be marked as “risky”. Providers will be able to temporarily suspend such transfers or cancel them altogether. If the information is still not provided, measures may be taken to restrict transactions with a specific financial institution or terminate cooperation with it.
These changes were published in the Official Gazette of the Republic of Turkey. The authorities emphasize that such steps are aimed at increasing the transparency of financial transactions in the country.
According to Chainalysis, Türkiye has the fourth largest cryptocurrency market in the world, with a value of $170 billion.
