The regulation is set for implementation on Feb. 25, 2025, allowing the country’s crypto service providers to halt “risky” crypto transactions with insufficient user information.
Turkey introduced new cryptocurrency regulations during the final week of 2024, inspired by positive regulatory developments in the world’s major jurisdictions, including Europe.
Under the new regime, users executing transactions of more than 15,000 Turkish liras ($425) will be required to share their identifying information with the country’s crypto service providers, according to a Dec. 25 document issued by the Official Gazette of the Republic of Turkey.
The new Anti-Money Laundering (AML) regulation aims to prevent laundering illicit funds and terrorism financing through cryptocurrency transactions.
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