Turkey will implement new regulations for the cryptocurrency market as part of its AML legislation in February 2025.
Developed to protect the country against financial crimes, the rules will require crypto service providers to report users conducting transactions over 15,000 Turkish lira or $425.
This measure aligns with global efforts, such as the European Union’s Markets in Crypto-assets (MiCA) regulation, to combat money laundering and terrorist financing through digital currency. Service providers must thoroughly verify the identities of their clients, and if this cannot be done, they have the right to reject high-risk transactions.
Non-compliant users may face suspension or termination of business relations. Additionally, cryptocurrency companies operating in Turkey will need to obtain a Capital Markets Board license, and the board has already received 47 applications since the regulation was issued in July.
