Turkey tightens cryptocurrency regulation rules

Turkish authorities have introduced new rules for cryptocurrency regulation to combat money laundering and the financing of terrorism. This was reported by the Official Gazette of the Republic of Turkey.

According to the updated requirements, users conducting transactions in digital assets amounting to more than 15,000 Turkish lira (about 425 dollars) must provide their identification details to crypto service providers. In addition, transfers from unregistered wallet addresses will need to be pre-confirmed. If the provider does not receive the required information from the sender, the transfer will be categorized as "risky" – in such cases, the service provider will have the option to temporarily block the transfer or fully cancel it.

The new rules will come into effect on February 25, 2025.

Earlier, we reported that the Russian government approved a list of regions in the country where cryptocurrency mining and participation in mining pools will be prohibited from January 1, 2025, to March 15, 2031.