"Turkey enforces new cryptocurrency regulations to combat money laundering and terrorism financing, requiring identity verification for transactions over 15,000 Lira."
Turkey Introduces New Cryptocurrency Regulations
In the final week of 2024, Turkey has rolled out new cryptocurrency regulations, drawing inspiration from proactive regulatory measures in major jurisdictions such as Europe. According to BlockBeats, the new rules require users to provide their identity information to cryptocurrency service providers for transactions exceeding 15,000 Turkish Lira (roughly $425). This step is part of Turkey's anti-money laundering (AML) efforts aimed at curbing money laundering and preventing the financing of terrorism through cryptocurrency transactions.