Turkey Imposes New Crypto Transfer Limits and Licensing Rules

Turkey, with its large and active crypto market, has emerged as a significant player in the global cryptocurrency landscape by 2025. The nation ranks fourth globally in terms of crypto trading volume, and while trading crypto is legal, using it for payments remains prohibited. The Turkish government has been actively tightening compliance requirements for crypto exchanges to enhance security and prevent illicit activities.

In June 2025, Finance Minister Mehmet Simsek announced new transfer limits and mandatory waiting periods for crypto withdrawals. These measures include wiring periods of 48 to 72 hours for crypto withdrawals where the travel rule is not applied. Additionally, a daily limit of $3,000 and a monthly limit of $5,000 for stablecoin transfers have been proposed to maintain a constant value. These regulations aim to prevent money laundering and criminal proceeds in the crypto space.

In March 2025, the Turkish Capital Market Board (CMB) issued new crypto licensing rules to impose stricter oversight on platforms, custody services, and foreign providers. These rules include licensing, restrictions, and operational guidelines for crypto asset service providers (CASPs). Most of these regulations will take effect from June 30, 2025, with full implementation by the end of the year. The CMB was granted full control over crypto in Turkey under the new regulation, and CASPs must appoint compliance and deputy compliance officers to oversee the crypto space.

In February 2025, the Financial Crimes Investigation Board (MASAK) implemented mandatory identity verification aligned with FATF rules to enhance anti-money laundering (AML) efforts. Transactions above 15,000 TL ($425) must provide the sender’s details and the beneficiary’s details. This move is part of the government's broader effort to reduce illicit activities in the crypto space by imposing new laws to strengthen anti-money laundering efforts.

Under the new crypto law in Turkey, a CMB-verified CASP license is mandatory for crypto exchanges, wallet providers, and custodians. The minimum capital threshold for crypto exchanges is 150 million TL ($4.1 million), while 500 million TL ($13.7 million) is required for custodians. CASPs will be required to invest in compliance infrastructure and create dedicated risk management teams to identify and mitigate various risks. Strict reporting obligations are also compulsory, and entities found non-compliant will face imprisonment for three to five years and a judicial fine from 5,000 to 10,000 days.

While there is no specific tax regime for crypto assets in Turkey, profits from crypto may be considered income and may be taxed at progressive tax rates ranging from 15% to 40%, depending on the annual income bracket. There were proposals for a minimal transaction tax up to 0.03% to support the national budget, but it has not been implemented yet.

Turkey's crypto adoption is projected to reach a penetration rate of 28.17% in 2025, with over 24.82 million users anticipated by 2026. The crypto revenue market in Turkey is expected to reach US$2.2 billion in 2025 and is projected to grow to US$2.6 billion by 2026. The government's focus is on imposing stricter rules to enhance transparency and safety for crypto consumers in the region.

Turkey's approach to crypto regulation in 2025 is characterized by a focus on enhancing services for crypto investors and reducing illegal activities. The government's efforts to align with global standards and implement stringent compliance measures position Turkey as a potential leader in the crypto market. The robust regulatory framework, combined with market growth, has made Turkey one of the major players in the cryptocurrency market by 2025.