Finance Minister Mehmet Şimşek announced that cryptocurrency platforms will now face stricter rules, particularly to prevent money laundering through crypto transactions.
Key highlights of the new regulation include:
- Stricter Monitoring of Crypto Exchanges: All platforms operating in Türkiye must collect and verify information on funding sources and transaction purposes. Non-compliance could lead to license revocation.
- Mandatory Transfer Delays: Crypto transfers will now be subject to waiting periods—72 hours for new accounts and 48 hours for existing accounts after receiving funds.
- Stablecoin Limits: Daily transfers of stablecoins such as USDT or USDC will be capped at $3,000, with a monthly ceiling of $50,000.
- Identification for Large Transfers: Transfers exceeding these limits will require full identity verification of both sender and recipient, including names, addresses, and birthdates.
- Exemptions for Licensed Traders: Professional users trading on regulated platforms can conduct unrestricted transactions if their fund sources are verified.
Minister Şimşek emphasized that the aim is not to burden honest users but to block illegal financial activities. “We’re not targeting law-abiding users. But we won’t allow those who try to conceal illicit income. This is about safeguarding the financial system,” he stated.
These measures align with Türkiye’s broader strategy to ensure financial transparency, adhere to global anti-money laundering standards, and stabilize the economy following years of high inflation and currency depreciation.
Meanwhile, Türkiye’s data center sector is witnessing rapid growth, fueled by rising investments from Gulf countries and beyond.
