Turkey Imposes 48-Hour Hold on Crypto Withdrawals to Combat Money Laundering

Turkey has introduced a new set of regulations targeting crypto service providers and transaction flows, aiming to bolster its anti-money laundering (AML) framework. The Ministry of Treasury and Finance announced that platforms will now be required to gather more comprehensive information about users and their transactions. This includes implementing mandatory withdrawal delays, setting limits on stablecoin transactions, and mandating clearer reporting on the purpose of each crypto transfer.

The new regulations are part of a broader effort by Turkish authorities to enhance transparency, curb financial crime, and align the country’s rapidly expanding digital asset sector with international standards. The government has also issued warnings about strict penalties for platforms that fail to comply with these new rules.

Under the new regulations, users will no longer be able to withdraw funds instantly from digital asset platforms. A mandatory 48-hour hold will be enforced on all purchases, deposits, or exchanges before withdrawal is allowed. New users will face an even longer 72-hour hold for their first withdrawal. Additionally, platforms must request a written explanation from users describing the purpose of each transaction, which must be at least 20 characters long. This measure is intended to aid in the early detection of suspicious transfers and help prevent illicit activities such as money laundering, fraud, or unauthorized betting.

Stablecoins have been specifically targeted in the new framework, with a daily transfer cap of $3,000 and a monthly limit of $50,000 imposed on these digital tokens. However, platforms that fully comply with the Financial Action Task Force’s travel rule, which mandates collecting and verifying identifiable details of both the sender and recipient, will be permitted higher thresholds, with limits doubled for verified activity.

The Ministry of Treasury and Finance has stated that non-compliant platforms risk severe sanctions, including financial penalties, administrative measures, and the suspension or cancellation of their licenses. These steps are in line with Turkey’s broader legal overhaul of crypto asset regulation, formalized on March 13, 2025, via changes to Capital Markets Law No. 6362. The revisions bring platforms under the authority of the Capital Markets Board (CMB), requiring them to operate as joint-stock companies with minimum capital thresholds, certified executives, and proper governance structures.

The two new communiqués issued under this law—III-35/B.1 and III-35/B.2—stipulate that platforms must also undergo proof-of-reserve audits, partner with custodians approved by the CMB, and maintain segregated client accounts. They must follow strict policies on asset listing, avoid conflicts of interest, disclose risks clearly, and offer fair dispute resolution mechanisms. The Ministry confirmed that transactions connected to market making, arbitrage, and liquidity provision will remain unrestricted. However, any activity outside of these categories that fails to meet compliance standards may trigger legal action.

This latest regulatory clampdown builds on stricter AML rules announced in February 2025, which required all crypto firms to collect ID data for transactions above 15,000 Turkish lira (about $378). These measures, based on the European Union’s Markets in Crypto-Assets (MiCA) framework, aimed to align Turkish crypto policy with global best practices, especially as the nation gains prominence in the global crypto market. These incremental steps signal Turkey’s increasing resolve to prevent abuse of decentralized finance and ensure all activity is traceable and regulated under local and international AML laws.

Turkey’s rapid regulatory developments come amid growing use of crypto assets in the country, driven by inflation and lira depreciation. By tightening controls while allowing compliant innovation to continue, the government appears to be carving out a stricter yet structured environment for future digital asset activity.