Key Insights
- Turkey is set to introduce stricter regulations on crypto platforms to combat financial crimes, including mandatory transaction descriptions and withdrawal delays.
- Daily and monthly limits will apply to stablecoin transfers, with higher thresholds for platforms fully complying with the Travel Rule.
ANKARA (MarketsXplora) – Turkey is preparing to roll out a sweeping set of regulations aimed at tightening oversight of cryptocurrency transactions and service providers, in a move designed to combat money laundering and other financial crimes, the state-run Anadolu Agency (AA) reported on Tuesday.
Under the proposed measures, crypto platforms operating in Turkey will be required to collect detailed information on the origin and intended purpose of every transfer. Each transaction must also be accompanied by a written description of at least 20 characters, the report said.
As part of the new controls, platforms will be obliged to introduce mandatory holding periods on crypto withdrawals in cases where the international “Travel Rule” does not apply. These include a 48-hour delay on most withdrawals, and a 72-hour delay on first-time withdrawals from any account.
The Ministry of Treasury and Finance, which is spearheading the crackdown, is accelerating its oversight of Crypto Asset Service Providers (CASPs) amid rising concerns over the illicit use of digital assets.
New Turkey Crypto Rules Limit Stablecoin Transfers
The ministry also plans to impose daily and monthly caps on stablecoin transfers, a move intended to stem the rapid outflow of illicit funds linked to illegal betting operations, fraud schemes, and other criminal activity. Under the new proposal, users will be limited to transfers of $3,000 per day and $50,000 per month.
However, platforms that are fully compliant with the Travel Rule — which requires the collection and sharing of complete identity details for both senders and recipients — will be permitted to apply these limits at double the threshold.
“In addition to administrative sanctions, various legal and financial penalties, including license denial or cancellation, may be imposed on platforms that fail to comply with the new regulations,” Treasury and Finance Minister Mehmet Şimşek told AA.
Şimşek emphasized that while the new framework is intended to crack down on criminal misuse, it would not hinder legitimate crypto activity. “Left-wing space for legitimate crypto asset activities will be maintained,” he said.
Transfers related to liquidity provision, market making, and arbitrage will be exempt from the proposed limits — provided users can prove the source of their funds and the transactions are monitored under the oversight of the responsible platform.
Move Toward International Alignment
The latest draft regulations mark one of Turkey’s most comprehensive efforts yet to bring its crypto oversight in line with international standards. The proposals are expected to echo elements of the European Union’s Markets in Crypto-Assets (MiCA) framework, which sets out strict guidelines for the regulation of digital asset markets.
In March, Turkey’s Capital Markets Board (CMB) introduced its first licensing and operational framework for CASPs, granting the agency full authority over crypto exchanges, wallet providers, and custodians. The framework requires crypto exchanges to maintain a minimum capital of $4.1 million, while custodians must hold at least $13.7 million. It also sets criteria for executive qualifications and shareholder structures.
The proposed rules come as Turkish authorities work to stabilize the country’s financial markets and stem the flow of illicit capital. With crypto adoption growing rapidly among Turkish citizens, officials say stronger regulatory oversight is critical to ensuring the integrity of the financial system.