Turkey tightens crypto rules in money laundering crackdown
- 48-hour delay on transactions
- Upper limits on stablecoin deals
- A fifth of Turks invest in crypto
Turkey’s financial regulators have strengthened cryptocurrency rules, bringing in a range of measures to reduce money laundering and sharpen oversight in one of the world’s busiest crypto markets.
Under the regulations that come into force today, there will be a 48-hour delay in all crypto transactions being completed. This will rise to 72 hours for first withdrawals from a crypto account.
The Ministry of Finance and Treasury’s Financial Crimes Investigation Board has also toughened up identification requirements for accounts and transactions, with full user ID now mandated and a minimum 20-character explanation…
