Turkey has introduced new regulations for the cryptocurrency market to combat money laundering and maintain financial stability. The measures include mandatory transfer notes for transactions over a certain threshold, delayed withdrawals for non-compliant platforms, and strict limits on stablecoin transactions. Licensed crypto platforms may be granted more lenient terms under the new rules. The Turkish government aims to enhance transparency and traceability in the crypto market, which has been growing rapidly in the country. The new regulations are part of a broader effort to prevent illicit activities and protect investors. Authorities will closely monitor the implementation of these measures to ensure compliance and maintain the integrity of the crypto market. Under the new rules, crypto exchanges must provide detailed transfer notes for transactions exceeding a certain threshold, which has not been specified yet. Non-compliant platforms will face delayed withdrawals of at least 72 hours, giving authorities more time to investigate suspicious transactions and prevent money laundering. Stablecoin transactions will be subject to strict limits, with users allowed to transact up to $3,000 per day and $50,000 per month. Licensed crypto platforms may be granted more favorable terms, depending on their compliance record and overall risk profile. Turkey's crypto market has been one of the most active in the world, with a significant number of users and a growing number of crypto exchanges operating in the country. The new regulations are expected to strengthen the regulatory framework for cryptocurrencies in Turkey and promote a more responsible and transparent market. The Turkish government will closely monitor the implementation of these measures and take necessary actions to ensure compliance and maintain the integrity of the crypto market. The new regulations are part of a broader effort to prevent illicit activities, protect investors, and promote the responsible use of cryptocurrencies in the country.
