Turkey Tightens Crypto Regulations to Curb Money Laundering

Turkey is implementing stringent cryptocurrency regulations to combat money laundering and enhance financial oversight. The Ministry of Treasury and Finance has introduced measures including a mandatory 20-character transfer note for all crypto transactions and a 72-hour withdrawal delay for non-compliant platforms. Stablecoin transactions will face daily and monthly caps of $3,000 and $50,000, respectively.

Finance Minister Mehmet Şimşek framed the move as a balance between fostering legitimate activity and enforcing anti-money laundering (AML) protocols. The regulations arrive as the Turkish lira has depreciated by over 20% in the past year, driving crypto adoption—though the new rules may dampen trading volumes and increase compliance costs.

While short-term speculative trading could decline due to withdrawal delays and stablecoin limits, compliant platforms may benefit from institutional inflows. Investor confidence remains buoyed by the U.S. approval of Bitcoin ETFs earlier this year.