-Turkey's Stricter AML Cryptocurrency Rules - What Does It Mean for Yo
ur Assets? Turkey has introduced stricter #cryptocurrency rules requiring identity verification for transactions over 15,000 liras.
Global cryptocurrency regulations are gaining momentum, with Turkey joining the US and European initiatives.
No wonder Turkey is taking bold steps to strengthen its presence in the global cryptocurrency landscape.
According to Chainalysis, Turkey was recently recognized as the 12th largest cryptocurrency market in the world.
Turkey's new policy aims to create a strong and modern cryptocurrency ecosystem, taking inspiration from European regulations.
Published in the Official Gazette of the Republic of Turkey on December 25. According to the document, the country will tighten supervision over cryptocurrency transactions under a new regulatory framework.
From February 2025, individuals making transactions worth more than 15,000 Turkish liras (about 425 U. S. dollars) will be required to provide identification information to cryptocurrency service providers.
These measures are aimed at increasing transparency and reducing risks associated with illegal activities such as money laundering and terrorist financing.
Why did Turkey decide to take this step? Turkey's regulatory initiative comes at a time of growing global interest in regulation.
This move comes ahead of the introduction of Europe's pioneering Markets in Cryptoassets (MiCA) regime. As the first comprehensive regulatory framework for #cryptocurrencies , MiCA is designed to set the standard for balancing innovation and investor protection.
What does this mean for your cryptoassets?
otably, the country's latest move allows providers to classify transactions as "risky" and restrict them if there is insufficient information.
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