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Turkey implements new cryptocurrency regulations to prevent money laundering

Effective February 25, 2025, Turkey’s regulations require users to provide identification for cryptocurrency transactions over 15,000 Turkish liras, approximately 425 USD. This aims to enhance compliance and monitor transactions effectively.

The regulations target money laundering and terrorism financing. Transactions below the 15,000 lira Threshold won’t need identification, but service providers can halt transactions deemed ‘risky’ without sufficient user information.

As of September 2023, Turkey stands as the fourth-largest global crypto market, with a trading volume of 170 billion USD. Recent interest in crypto regulations highlights Turkey’s push towards global compliance.

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