Turkey Imposes Strict Crypto Regulations with New Transfer Limits and AML Rules

Turkey has escalated its regulatory clampdown on cryptocurrency transactions, implementing stringent measures to combat illicit activities. The Financial Crime Investigation Board (MASAK) introduced mandatory waiting periods, transfer caps, and enhanced anti-money laundering (AML) protocols under Law No. 5549. These rules, effective June 28, target Crypto Asset Service Providers (CASPs) with requirements including 48-72 hour withdrawal delays, transaction explanations, and daily transfer limits of $50,000.

The regulations mandate user identification for all transactions and impose a $3,000 ceiling on single transfers between platforms. CASPs must now establish internal risk management systems, undergo independent AML audits, and report suspicious activity. Market-making and arbitrage operations may receive exemptions, but non-compliance risks severe penalties as Turkey prioritizes financial transparency.