Turkey has tightened its rules for crypto transactions! 🇹🇷
Now, to combat money laundering and terrorist financing, crypto exchanges are required to collect more data about users.
➡️ What has changed?
* For transactions over 15,000 Turkish lira (approximately $425), mandatory identification will be required.
* If there is insufficient information about the user, the exchange may refuse to process the transaction or even block it.
These measures come into force on February 25, 2025.
What does this mean for users?
Be prepared to provide your data when making large transactions. This may include:
* A copy of your passport or other identification.
* Proof of residential address.
Important:
* Cryptocurrencies are recognized as assets in Turkey, but their use as a means of payment has been prohibited since 2021.
* The new rules are based on European standards.
