Turkey Will Tighten its Crypto AML Rules in 2025

Turkey is on track to enforce strict regulations for cryptocurrency by February 2025 in an effort to strengthen their anti-money laundering protocols and align with globally accepted standards.

This decision, announced in the last week of 2024, is influenced by similar regulatory actions taken by other major jurisdictions, specifically the European Union’s Markets in Crypto-Assets (MiCA) framework.

The new rule will require crypto service providers in Turkey to collect identifying information from users conducting transactions worth more than 15,000 Turkish lira (equivalent to $425).

The goal of this regulation is to combat money laundering and terrorist financing through the use of digital assets.

These measures come at a time when the crypto industry is under increased scrutiny, with Turkey emerging as a significant player in global cryptocurrency markets. According to Chainalysis, Turkey ranked as the eleventh-largest crypto market in terms of adoption in the current year.