Turkey has just implemented new management measures to more strictly control the cryptocurrency market, requiring clear declaration of transaction origins and imposing a maximum stablecoin transfer limit of 3,000 USD per day to prevent money laundering and illegal financial activities.
The cryptocurrency market in Turkey, one of the world's top trading hotspots, is facing an important legal turning point. The country's Ministry of Finance announced a plan to implement a series of strict measures, requiring cryptocurrency asset service providers (CASPs) to collect detailed information about the origin and purpose of each transaction.
According to information from the Anadolu News Agency, platforms will require users to provide a transaction description of at least 20 characters to clarify the purpose and source of transferred funds. More notably, a delay of 48 to 72 hours will also be applied to withdrawal requests, especially in cases that do not fully meet the Travel Rule. These regulations aim to create time for authorities to more closely monitor suspicious transactions.
Stablecoin has become the main focus of this tightening, as it is often used in illegal activities. Specifically, transfer limits will be set at 3,000 USD/day and a maximum of 50,000 USD/month. These limits can be doubled if the platform can prove full compliance with regulations.
Finance Minister Mehmet Şimşek affirmed that the goal of these measures is to limit illegal behavior without affecting legal transactions, and emphasized that violating organizations will face severe sanctions, including license revocation.
However, legal financial activities such as providing liquidation or market making will still be exempted, clearly demonstrating the government's efforts to distinguish between financial technology innovation and abusive practices.
These new regulations are part of an overall strategy to raise Turkey's crypto market management standards to the level of international standards like the EU's Markets in Crypto-Assets (MiCA).
Previously, the Capital Markets Board (CMB) had issued strict licensing requirements, demanding a minimum capital of 4.1 million USD for exchanges and 13.7 million USD for custody units. This is a clear sign that Turkey is closing its free development phase and entering a new period where supervision and legal compliance become top priorities.
