Turkey to enforce stricter controls on crypto transactions to prevent money laundering
Turkey’s Ministry of Treasury and Finance is rolling out new regulations to strengthen oversight of crypto transactions.
Turkey’s Ministry of Treasury and Finance is stepping up efforts to combat money laundering through crypto. According to information obtained by Anadolu Agency, new regulations will soon be implemented to tighten oversight of crypto asset transactions.
Specifically, Crypto Asset Service Providers (CASPs) will be required to monitor the sources of funds and the purposes behind crypto transfers. All crypto transactions will have to include a minimum 20-character explanation from the user. For withdrawals where the “travel rule” does not apply, a time delay will be imposed — 48 hours after…
