Starting from February 25, 2025, users from Turkey conducting transactions with digital assets exceeding 15,000 TRY (~$425) will be required to provide identification data to crypto service providers.

The new AML regulation aims to prevent money laundering and terrorist financing. Insufficient information about the sender will result in the transfer being classified as 'high-risk' with a potential rejection.

'In the event of an inability to obtain the necessary data, issues regarding transaction refusal, limitations on operations conducted with the organization, or termination of business relationships will be considered,' the document states.

Crypto service providers are not required to collect information on transfers below the specified threshold.

The tightening of legislation will occur after the remaining provisions of MiCA come into effect on December 30.

According to Chainalysis, Turkey is the fourth largest national crypto market, surpassed in volume only by the USA, India, and the UK.