Turkey introduces stricter crypto AML regulations
Turkey introduced new cryptocurrency regulations effective February 25, 2025, requiring users to share identifying information for transactions exceeding 15,000 Turkish liras ($425) to combat money laundering and terrorism financing. Crypto service providers must collect information from customers using unregistered wallet addresses, with the option to halt transactions deemed "risky" if sufficient information is not obtained. As of September 2023, Turkey ranked as the fourth-largest crypto market globally, with a trading volume of $170 billion. In 2024, the Turkish Capital Markets Board received 47 license applications from crypto firms following new regulatory frameworks. While crypto trading is permitted, using cryptocurrencies for payments has been banned since 2021. Turkey is considering a minor 0.03% transaction tax on crypto to support the national budget.
