Turkey is rolling out strict new crypto regulations aimed at curbing money laundering and illegal financial activities, the Treasury Ministry revealed on June 24.

Crypto platforms must now collect detailed transaction data. Users will also be required to include at least a 20-character description with every transfer.

Most crypto withdrawals face a 48-hour delay, and first-time withdrawals are held for 72 hours. Stablecoin transfers will be capped at $3,000 daily and $50,000 monthly.

Platforms fully complying with the Travel Rule and identity checks may operate with double the transfer limits. Exceptions also exist for market making and arbitrage.

Violating platforms risk losing their licenses and facing legal or financial penalties. Turkey aims to protect lawful crypto activity while clamping down on abuse.