Turkey tightens cryptocurrency regulations by checking the source and purpose of money transfers.

Turkey is preparing to implement stricter regulations on cryptocurrency transactions to combat money laundering and financial crime. According to information from Anadolu Agency, cryptocurrency platforms will be required to collect details about the origin and purpose of each transaction, with a minimum description of 20 characters. Additionally, there will be a holding period for withdrawals, including a 48-hour delay for most transactions and 72 hours for the first transaction from each account.

The Ministry of Finance will also limit stablecoin transactions to 3,000 USD per day and 50,000 USD per month to prevent rapid withdrawal of illegal funds. Platforms that fully comply with regulations will have double limits applied. These regulations aim to regulate cryptocurrency activities according to international standards, including the EU's MiCA framework.