Turkey is tightening its grip on cryptocurrencies as part of a new crackdown aimed at stopping money laundering linked to illegal betting and fraud schemes. The Ministry of Finance is preparing strict measures that include transfer limits, withdrawal delays, and stricter identity verification rules.
📉 Strict Caps and Fund Monitoring
Under the new plan, stablecoin transfers will be capped at $3,000 per day and $50,000 per month. Only platforms that fully implement the so-called “Travel Rule” — requiring the verification and sharing of sender and recipient information — will be allowed double these limits.
📌 Delayed Withdrawals as a Deterrent
All crypto withdrawals will be delayed by 48 hours, while first-time user withdrawals will be held for up to 72 hours — unless the platform is exempt under the travel rule. This is intended to block the fast movement of illicit funds.
🧾 More Bureaucracy for Better Security
Users will be required to include a transaction note of at least 20 characters with every transfer. Platforms must also maintain detailed records about the source and purpose of each transaction.
💬 Government Warning: Noncompliance Will Be Penalized
Finance Minister Mehmet Şimşek emphasized that platforms failing to comply with the new rules may face not only administrative penalties but also the revocation of licenses and other legal consequences.
“We don’t want to hinder legitimate crypto activities,” Şimşek stated. “Our goal is to limit the misuse of cryptocurrencies for criminal purposes and to build a safer and more transparent environment.”
With this move, Turkey is demonstrating its serious intent to regulate the crypto sector—clearly separating lawful crypto use from criminal activity. The new regulations are expected to take effect very soon.
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