Turkey's cryptocurrency regulatory landscape is constantly changing, with recent updates focusing on crypto transactions and anti-money laundering measures. New AML rules were published on Dec. 25 in the Official Gazette of the Republic of Turkey, requiring users conducting transactions over 15,000 Turkish liras ($425) to provide identification details to cryptocurrency service providers. The regulations aim to prevent money laundering and terrorism financing through crypto use. Interestingly, service providers are not obligated to collect transaction information for amounts below $425. These rules will be enforced starting February 25, 2025. Turkey's approach mirrors global trends, such as the EU's MiCA regulation coming into effect on Dec. 30, prompting crypto providers to comply. While Turkey legalized crypto in June 2024, the ban on using crypto for payments remains since 2021. A proposed 0.03% transaction tax is being considered to boost the country's budget, as Turkey currently does not have a crypto profit tax. Read more AI-generated news on: https://app.chaingpt.org/news