Turkey concludes 2024 with the release of its cryptocurrency regulatory framework to go into effect in 2025, joining other regions like Europe in efforts to control the market.
Turkey to Combat Money Laundering
With the introduction of the regulatory framework, any transaction above 15,000 Turkish liras must be reported, and users are required to share identifying information with crypto service providers. This aims to reduce the risk of scams, laundering, and terrorism financing.
EU to Implement MiCA
The European Union prepares to implement MiCA, the world's first comprehensive crypto regulatory framework. The law requires all stablecoins to be issued by entities with an e-money license.
US Crypto Regulation Changes
With Donald Trump elected as President, changes are expected in the US approach to cryptocurrency regulation. He plans to establish a crypto advisory council and appoint a new SEC Chair.
Following the global trend, Turkey introduces cryptocurrency regulation to strengthen oversight of financial transactions, part of a worldwide movement against illicit financial activities.
