Turkey tightens crypto grip with mandatory checks and new limits

Turkey’s Ministry of Treasury and Finance is stepping up its oversight of the crypto sector with a new wave of regulatory measures aimed at countering money laundering and financial crime. According to details by state-run Anadolu Agency (AA), the regulations will require crypto platforms to collect detailed information on the source and purpose of all transactions, tightening compliance with global standards.

Users will now need to enter a minimum 20-character transaction description for each crypto transfer. The new compliance framework also mandates holding periods for withdrawals, particularly when the international Travel Rule does not apply. Withdrawals will be delayed by 48 hours for most users, and first-time withdrawals from new accounts will be held for 72 hours.

Stablecoin transfers face new caps

A key part of the reform targets stablecoin activity. The ministry plans to impose strict daily and monthly limits to prevent the movement of illicit funds through stablecoins, which have gained popularity due to their relative price stability.

Individual users will face a cap of $3,000 per day and $50,000 per month on stablecoin transfers. However, platforms that fully comply with Travel Rule obligations including sender and recipient identification will be permitted to offer double these limits. This incentivizes platforms to meet global anti-money laundering standards while giving users greater flexibility through compliant services.

Treasury and Finance Minister Mehmet Şimşek emphasized that the goal is to strike a balance between security and innovation. “Left-wing space for legitimate crypto asset activities will be maintained,” Şimşek told AA. He added that non-compliant platforms could face significant penalties, including license denial or cancellation.

Exceptions for market activity and proof of funds

Certain categories of activity will be exempt from the new transfer limits. Transfers involving liquidity provision, market making, and arbitrage will not be subject to the caps as long as the source of funds is verifiable and monitored by the platform. This exception is designed to protect market functionality while ensuring oversight of high-volume flows.

Crypto platforms will be held responsible for documenting and monitoring such transactions, and failure to do so may result in administrative, legal, or financial sanctions.

Turkey moves to align with global crypto standards

The new proposals mark one of Turkey’s most extensive attempts to bring its crypto regulations in line with international norms. They build on earlier moves in March when Turkey’s Capital Markets Board (CMB) introduced a licensing regime for crypto asset service providers (CASPs).

That framework requires crypto exchanges to maintain a minimum capital of $4.1 million, while custodial platforms must hold at least $13.7 million. It also mandates rigorous checks on executive qualifications and shareholder transparency.

Turkey’s new crypto regulations align closely with the European Union’s Markets in Crypto-Assets (MiCA) framework, signaling Ankara’s intent to modernize its approach while safeguarding against misuse.