Turkey revealed new cryptocurrency regulations in late December 2024, drawing inspiration from international frameworks like Europe’s Markets in Crypto Assets (MiCA).

According to a document published on December 25 in the Official Gazette of the Republic of Turkey, transactions exceeding 15,000 Turkish liras (approximately $425) will require users to provide identifying information to crypto service providers.

Unregistered Wallets Face Stricter Oversight

This measure is intended to address risks related to money laundering and terrorism financing. For transfers below the $425 threshold, service providers are not mandated to collect such data.

The regulations will take effect on February 25, 2025. They also include provisions requiring service providers to verify information for transactions involving unregistered wallet addresses. Transfers without adequate sender details may be flagged as “risky,” potentially leading to transaction suspension or termination of business relationships.