Turkey Enforces New Crypto Rules- Crypto Exchanges in Turkey Face Tighter Supervision

Turkey Enforces New Crypto Rules– The Ministry is preparing to introduce stronger oversight over transactions performed by Crypto Asset Service Providers (CASPs). Under the new rules, platforms must collect detailed information regarding both the source of funds and the purpose of transfers. Crucially, every transfer must include a transaction description of at least 20 characters provided by the client.

Withdrawal Time Limits for Untracked Transfers

To prevent the laundering of illicit earnings from illegal gambling and fraud, time restrictions will be imposed on “untracked” crypto withdrawals. Transfers involving untethered assets will be allowed only 48 hours after the original purchase, exchange, or deposit. For a user’s first withdrawal, this waiting period increases to 72 hours.

Stablecoin Transfers Face Daily and Monthly Caps

Additional limits will apply to the movement of stablecoins—cryptocurrencies pegged to other assets—to disrupt fast exits of illicit funds. A daily cap of $3,000 and a monthly cap of $50,000 will be enforced. However, CASPs that fully adhere to Travel Rule requirements—fully identifying sender and recipient details such as names, wallet addresses, and birthdates—can opt to double these limits.

Legitimate Crypto Usage Still Allowed

Finance Minister Mehmet Şimşek emphasized that these measures support legitimate crypto activity while curbing illegal fund flows:

Legitimate users—like liquidity providers, market makers, or arbitrage traders—who document their fund sources can conduct transfers beyond these limits, under platform supervision.

Enforcement and Penalties for Non-compliant Platforms

Şimşek warned that platforms failing to comply with the new regulations face administrative sanctions and legal consequences, including denied or revoked licenses. These actions aim to protect user safety and maintain financial system integrity.

Disclaimer: This article is for informational purposes only and does not constitute investment advice. Cryptocurrencies and stocks, particularly in micro-cap companies, are subject to significant volatility and risk. Please conduct thorough research before making any investment decisions.