Turkey to Tighten Crypto Rules With New KYC, Withdrawal Delays, and Stablecoin Caps

Turkey is preparing new restrictions on cryptocurrency transactions aimed at curbing money laundering and illicit financial activity, according to a report from the state-run Anadolu Agency.

Under the proposed framework, crypto platforms will be required to collect additional transaction details, including the source of funds and purpose of each transfer. Users must also add a minimum 20-character note for every transaction.

Withdrawals will face delays if the Travel Rule — which requires full sender and recipient details — is not met. Most withdrawals would be held for 48 hours, while first-time withdrawals from new accounts could face 72-hour delays.

Stablecoin Limits

Authorities are also introducing limits on stablecoin transfers to restrict illegal fund flows. Users will face caps of $3,000 per day and $50,000 per month, though platforms following the Travel Rule may double these limits.

Finance Minister Mehmet Şimşek said the measures are designed to block criminal activity without hurting regular users, emphasizing that “space for legitimate cryptocurrency asset activities will be maintained.”

Non-compliant platforms risk penalties ranging from fines to license denial or cancellation. Certain activities, such as market making, liquidity provision, and arbitrage, may be exempt if users can prove the origin of funds.

Stronger Oversight in Line With Global Standards

The new measures build on Turkey’s earlier efforts to regulate the sector. In March, the Capital Markets Board (CMB) implemented licensing and operational rules for crypto asset service providers (CASPs), including minimum capital requirements and executive vetting.

Together, these rules mark one of Turkey’s most detailed attempts to bring its crypto framework in line with international standards, including the EU’s Markets in Crypto-Assets (MiCA) regulation.