Turkish authorities have announced the implementation of strict new regulations for cryptocurrencies aimed at combating money laundering and increasing transaction transparency.
New Requirements for Cryptocurrency Transactions
All cryptocurrency transactions will now require transfer notes of at least 20 characters. This new measure aims to enhance traceability and accountability for fund movements between wallets and platforms.
Restrictions on Stablecoin Usage
Authorities are also imposing strict limits on stablecoin usage. Individuals using unlicensed platforms will face a cap of $3,000 per day and $50,000 per month in stablecoin transactions. These caps are part of a broader effort to regulate the movement of digital assets that often mirror fiat currencies.
Incentives for Licensed Platforms
Licensed crypto platforms may receive more relaxed thresholds, giving regulated entities some operational flexibility. However, specifics of these exemptions have yet to be fully disclosed, with the distinction likely incentivizing platforms to seek formal licensing under Turkey’s evolving crypto legal framework.
The new regulations being introduced by Turkey highlight the country's commitment to enhancing control over cryptocurrency operations and providing a safe environment for users.
