Turkey to Introduce New Restrictions on Cryptocurrency Transfers
Date: 2025-06-25 Author: Gabriel Deangelo Categories: BUSINESS
The Turkish Ministry of Finance has announced planned measures to strengthen controls over cryptocurrency transactions in order to make it more difficult for digital assets to be used for criminal purposes, such as illegal betting and fraud, Anadolu Agency reports.
The focus is on tightening rules for crypto platforms through which suspicious transactions may pass. The authorities insist on mandatory verification of the origin of funds and the purpose of all transfers made through exchanges and wallets.
One of the key changes will be the requirement to include a description of at least 20 characters in each crypto transfer. This should increase the transparency of transactions and make it easier to track their purpose.
There will also be restrictions on the speed of withdrawal of funds. If a transaction does not comply with the international travel rule - that is, does not contain information about the payer and recipient - the withdrawal of funds is delayed for 48 hours. And in the case of the first withdrawal from a new account, the waiting period increases to 72 hours. The purpose of such delays is to complicate the cashing out of illegal funds and make it more difficult to hide traces.
The third measure concerns transactions with stablecoins such as USDT and USDC. Users will be given a transfer limit: no more than $3,000 per day and $50,000 per month. However, if the platform transfers full data within the travel rule, these limits can be doubled.
Crypto platforms will also have to prove the legality of the origin of clients' funds and the purpose of the transactions. This requirement applies to both centralized exchanges and other services working with digital assets. Failure to comply with the requirements will result in sanctions ranging from denial of licensing to its cancellation.
Finance Minister Mehmet Simsek noted that the state does not intend to interfere with the legal use of cryptocurrencies. Participants who can confirm the sources of funds and operate within the framework of regulations - for example, for the purposes of market making, arbitrage or providing liquidity - will continue to operate without restrictions.
He emphasized that the proposed measures are important both for strengthening financial stability and for the safety of users. Platforms that violate the new requirements may be fined or even banned from operating in the country.
It should be noted that a year ago, Turkey adopted a law regulating the cryptocurrency market. At that time, the document established fines of up to $182.6 thousand and possible prison terms of up to five years for violations. These initiatives are designed to improve the country's international reputation in the eyes of the FATF and other supervisory authorities.
