Starting February 25, 2025, users in Turkey conducting digital asset transactions exceeding 15,000 TRY (~$425) will be required to provide identification details to crypto service providers.

The new AML regulation aims to prevent money laundering and terrorist financing.

Incomplete information about the sender will classify a transfer as “high-risk,” potentially leading to its rejection.

“If the required data cannot be obtained, measures such as transaction refusal, restrictions on operations with the organization, or termination of business relationships may be considered,” the document states.

Crypto service providers are not required to collect information for transfers below the specified threshold.

This regulatory tightening follows the implementation of the remaining provisions of MiCA, set to take effect on December 30.

According to Chainalysis, Turkey is the fourth-largest national crypto market, trailing only the US, India, and the UK in transaction volume.

Context and Background

In June, Cryptol reported on Turkey’s preparation to tighten its digital asset legislation by the year’s end.

In January, Turkey’s Finance Minister Mehmet Şimşek announced the implementation of FATF regulations to remove the country from the “grey list.” Turkey has been on the list since October 2021.