Turkey Imposes 72-Hour Delay on Crypto Withdrawals

As July approached, Turkey’s cryptocurrency community faced a significant transformation with the introduction of new regulations. These directives mandate that all cryptocurrency exchanges licensed in Turkey, including branches of international leaders, immediately adhere to the new rules. The Financial Crimes Investigation Board unveiled the General Communiqué (No: 29) on June 28, 2025, specifically targeting cryptocurrency activities in Turkey. The regulation advocates for heightened user security and strict adherence to legal frameworks. It is already in effect on platforms such as Binance TR.

The recent regulation has introduced a delay in cryptocurrency withdrawal processes. Turkish investors engaging with licensed crypto platforms need to be aware of significant changes. At present, investors must wait 72 hours to withdraw cryptocurrencies from exchange wallets, including moving Bitcoin from Binance TR to another international platform. New digital currency acquisitions or balances from trade activities will face the same 72-hour delay. While the initial transaction incurs a 72-hour delay, subsequent actions will have a reduced waiting time of 48 hours. Thus, the first transfer abroad will adhere to the 72-hour rule, while later ones will require 48 hours. Transfers to wallets associated with Turkish identification via Binance Transfer are not subject to the waiting period when compliant with the Travel Rule.

Although some view these waiting periods with skepticism, there are undeniable advantages. In situations where hackers compromise exchange accounts, such delays provide a crucial time buffer. If investors receive timely alerts, they can maintain control over their funds since attackers cannot deplete accounts within 72 hours. Past trends have shown swift depletion of accounts through methods like SIM swapping. In such circumstances, securing one’s phone number and exchange details can prevent immediate loss. Turkish traders are encouraged to remain vigilant and leverage these measures to safeguard their assets. The delay offers a window of opportunity in securing compromised accounts, highlighting the potential benefits of these new regulations.

Turkey has recently implemented stringent measures to restrict access to cryptocurrencies, marking a significant shift in the country's approach to digital assets. The Securities and Exchange Commission has announced new regulations targeting unlicensed cryptocurrency service providers and foreign entities offering leveraged services. This move is part of a broader effort to enforce financial security and legal compliance. The new measures aim to address concerns over financial stability and consumer protection, as the popularity of cryptocurrencies has surged in recent years. Cryptocurrencies, while offering innovative financial solutions, also present challenges such as price volatility and the potential for illicit activities. By imposing these regulations, Turkey seeks to mitigate these risks and ensure that the financial system remains stable. The regulatory framework is designed to protect consumers from fraudulent activities and to prevent the misuse of cryptocurrencies for money laundering and other illegal purposes.

Cryptocurrency exchanges in Turkey will now face stricter requirements, including enhanced Know Your Customer (KYC) procedures and anti-money laundering (AML) protocols. These changes will make it more difficult for individuals to engage in anonymous transactions, thereby reducing the risk of illicit activities. Additionally, the regulatory measures will require cryptocurrency exchanges to obtain licenses and comply with stringent operational standards, ensuring that they operate in a transparent and accountable manner. The Turkish government's decision to curb cryptocurrency access is part of a broader trend among governments worldwide to regulate digital assets. As cryptocurrencies gain mainstream acceptance, regulatory bodies are increasingly recognizing the need to establish clear guidelines and oversight mechanisms. Turkey's new measures are a response to the evolving landscape of digital finance and the need to balance innovation with regulatory control. By taking proactive steps, Turkey aims to create a secure and stable environment for the use of cryptocurrencies, while also protecting the interests of its citizens and the integrity of its financial system.

Observers are keenly watching how these constraints might shape the future of crypto trading in the region. The regulatory changes are expected to have a significant impact on the cryptocurrency market in Turkey, potentially reshaping the landscape for digital finance operations. The inclusion of PancakeSwap in the list of blocked sites highlights the SPK's aggressive approach toward regulating digital finance platforms and suggests that further implications for unlicensed service providers are anticipated.