Turkey is preparing to impose stricter regulations on cryptographic transactions to combat money laundering and financial crimes, according to information obtained by the Anadolu State Agency (AA).
Under the proposed measures, cryptographic platforms will be necessary to collect detailed information on the origin and purpose of each transfer. Users will have to provide a transaction description of at least 20 characters for each transfer, AA said in a Tuesday report.
In addition to transaction descriptions, platforms will have to apply periods of holding cryptography when the travel rule does not apply. These include a period of 48 hours for most withdrawals and a period of 72 hours for the first withdrawal of any account.
The regulations are part of a broader repression of the Ministry of the Treasury and Finance, which accelerates its surveillance of providers of cryptographic asset services (CASPS).
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Daily and monthly limits on stablecoin transfers
According to the report, the ministry will also introduce the daily and monthly limits on stablecoin transfers to prevent the rapid release of illicit funds, in particular crimes like illegal bets and fraud. Users will be limited to $ 3,000 per day and $ 50,000 per month.
The platforms that fully comply with the travel rule obligations, including the collection of the complete details of the sender and the recipient, will be authorized to apply these limits to double the threshold.
The Minister of the Treasury and Finance, Mehmet şimşek, told AA that the objective was to limit criminal improper use without stifling a legitimate activity. “The left space for legitimate activities of cryptographic assets will be maintained,” he said.
“In addition to administrative sanctions, various legal and financial sanctions, including license refusal or cancellation, can be imposed on platforms that do not comply with new regulations,” said şimşek.
In particular, transfers linked to the supply of liquidity, market manufacturing and arbitration (where users can prove the source of funds) will be exempt from the limits provided that they are monitored under the responsibility of the relevant platform.
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Turkey to align cryptography rules with global standards
The recent proposed rules mark one of the most complete stages of Turkey to align its cryptographic regulations on international standards, including executives such as the Crypto Market markets (MICA) of the European Union.
In March, Turkey’s Capital Markets Board (CMB) introduced license and operational rules for Caps. The framework grants full authority of the CMB on crypto exchanges, portfolio suppliers and guards, aligning national surveillance on global regulatory standards.
The rules set strict requirements to establish CASP in Türkiye, including the criteria for executive history, shareholders’ structures and minimum capital thresholds. Crypto exchanges must have at least $ 4.1 million in capital, while goalkeepers need $ 13.7 million.
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