Turkey Tightens Grip On Crypto To Foil Money Launderers
Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure
Turkey’s Ministry of Treasury and Finance rolled out new rules this week to stop money laundering through crypto trades. Users now have to put in a transfer note of at least 20 characters explaining why they’re moving funds.
At the same time, platforms must collect clear proof of where the money came from. These steps come as crypto use in Turkey has surged, driven by high inflation and a shaky currency.
New Transfer Rules Take Effect
According to the Treasury and Finance Ministry, every crypto transfer needs a note that’s at least 20 characters long. Users must say what the transfer…
