Turkey has tightened rules for crypto transactions! 🇹🇷
Now, to combat money laundering and the financing of terrorism, crypto exchanges are required to collect more user data.
➡️ What has changed?
* For transactions exceeding 15,000 Turkish Lira (approximately $425), mandatory identity verification will be required.
* If the information about the user is insufficient, the exchange may refuse to process the transaction or even block it.
These measures come into effect 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 residence.
Important:
* Cryptocurrencies in Turkey are recognized as assets, but their use as a means of payment has been prohibited since 2021.
* The new rules are based on European standards.