Turkey is set to introduce tougher regulations on cryptocurrency transactions in an effort to curb money laundering and financial crime, according to a report by state-run Anadolu Agency (AA).
The proposed rules will require crypto platforms to collect comprehensive information on the source and purpose of each transaction. Users must include a transaction description of at least 20 characters with every transfer, AA reported on Tuesday.
Additionally, platforms will have to enforce mandatory holding periods on crypto withdrawals in cases where the Travel Rule does not apply. These will include a 48-hour delay for most withdrawals and a 72-hour delay for a user’s first withdrawal from any account.
The new measures are part of a broader regulatory push by the Ministry of Treasury and Finance to tighten oversight of crypto asset service providers (CASPs).
Daily and monthly caps on stablecoin transfers
According to the report, Turkey’s Ministry of Treasury and Finance plans to implement daily and monthly limits on stablecoin transfers as part of efforts to prevent the rapid movement of illicit funds, particularly those linked to illegal betting and fraud. Users will be restricted to transfers of $3,000 per day and $50,000 per month.
However, platforms that fully comply with the Travel Rule—by collecting complete identity information for both senders and recipients—will be allowed to enforce these limits at twice the standard thresholds.
Treasury and Finance Minister Mehmet Şimşek emphasized that the objective is to combat criminal abuse without hindering legitimate use of digital assets. “Legitimate crypto asset activity will still have room to operate,” he told Anadolu Agency.
Şimşek also warned that noncompliant platforms could face a range of consequences, including administrative penalties, financial sanctions, license denial, or revocation.
Transfers related to liquidity provision, market making, and arbitrage will be exempt from the limits, provided users can verify the source of funds and such activity is monitored under the oversight of the respective platform.
Turkey to harmonize crypto regulations with international standards
The newly proposed regulations represent one of Turkey’s most significant efforts to bring its crypto framework in line with international standards, including the European Union’s Markets in Crypto-Assets (MiCA) regulation.
Earlier in March, the Capital Markets Board (CMB) rolled out licensing and operational requirements for crypto asset service providers (CASPs). Under the new framework, the CMB now holds full regulatory authority over crypto exchanges, wallet services, and custodians—bringing Turkey’s oversight approach closer to global norms.
The regulations establish stringent criteria for setting up crypto asset service providers (CASPs) in Turkey, covering executive qualifications, shareholder structures, and minimum capital requirements. Crypto exchanges are required to maintain at least $4.1 million in capital, while custodians must hold a minimum of $13.7 million.
