Introduction of 15.000 TRY Threshold for Mandatory Crypto User Identification in Turkey

Introduction of 15.000 TRY Threshold for Mandatory Crypto User Identification in Turkey  is a turning point in the Turkish crypto-led environment. The Inclusion of Crypto Transfers over 15.000 TRY by the Prevention of Terrorist Financing Regulations as of 2025 is a significant development about Turkish crypto business. Crypto Transfers over 15.000 TRY are included by 2025 Prevention of Terrorist Financing Regulations in Turkey. FinTech business sectors should keep an eye on regulatory changes in Turkey.

Introduction

Crypto regulatory ecosystem has been improved step by step by Turkish policy and law makers. FinTech-centric developments never end up in Turkey. The present article will shed light on a recent change on crypto asset transfer rules.

Significant Steps for Turkish FinTech Environment and Threshold for Mandatory User Identification

It is worth reiterating the legislative revisions in Turkey for the FinTech environment. After the establishment of the digital participation banking system, the recognition of digital wallets was completed through new regulation of the Central Bank by opening the Digital Wallet Era in Turkey. Afterwards, the 2024 New Electronic Submission System for Turkish Capital Markets was instituted by the Capital Markets Board. In line with the FATF principles, the Law Numbered 7518, mainly known as Turkish Crypto Law, on Amendments to the Capital Markets Law Numbered 6362 was enacted as of July 2, 2024. The 2024 FATF Decision on Turkey on removal of Turkey’s name from the grey list accelerated that ongoing process. Turkish Capital Markets Board has been given significant mission to supervise and monitor crypto business. 2024 Announcement for the Rejected Crypto Asset Platforms by Board is an important stance about how the Capital Markets will use its authority on crypto hubs.

The Resolution on legal status of NFTs and P2Ps in Turkey  identifies the standards for the accounts to be opened in the name of customers under Article 35/C. Any account to be opened in the name of customers cannot be used for purposes other than their intended purpose. Additionally, customer cash cannot be received by the platforms, cannot be delivered to the customer by hand and cannot be stored in any way with the platforms.

Threshold for Mandatory Crypto User Identification represents a significant recent application by the Turkish Capital Markets Board in Turkey.

The Inclusion of Crypto Transfers over 15.000 TRY by the Prevention of Terrorist Financing Regulations as of 2025:
Introduction of 15.000 TRY Threshold for Mandatory Crypto User Identification in Turkey

Regulation on Measures for Anti Money Laundering and Terrorist Financing(Suç Gelirlerinin Aklanmasının ve Terörün Finansmanının Önlenmesine Dair Tedbirler Hakkında Yönetmelik in Turkish) has been revised by Article 3 of the Presidential Decree No. 9305 circuited in the Official Gazette No. 32763 dated 25/12/2024. The Official Gazette in question is available here.

The said revision requires the mandatory verification for the identification of crypto service providers for any crypto-centric transactions over 15.000 TRY.

What is meant by identity verification?

For instance in terms of Turkish individuals,  a Turkish identity card, a Turkish driver’s license or passport, or an identity document proving a Turkish identity number and clearly stated in special laws as an official identity document.

Crypto service providers are obliged to fully verify any users conducting electronic crypto transactions over 15.000 TRY.

If a crypto-led transaction is below 15.000 TRY there is no such a requirement. But when a single transaction amount and|or the total amount of multiple interconnected transactions exceeds 15.000 TRY by crypto asset service providers, the obligation appears.  It means that there is no possibility of crypto transfers remotely and without any identification.

It is also noteworthy that crypto service providers are regarded as “liable” within the context of  Regulation on Measures for Anti Money Laundering and Terrorist Financing under Article 4.

Conclusion

Mandatory verification for transactions over 15.000 TRY aims at closely supervising all crypto-centric activities by the Financial Crimes Investigation Board under the framework of the Ministry of Treasury and Finance. Such updates play a vital impact upon the compliance of blockchain business at domestic level. The violation of the Regulation in question may require the enforcement of severe criminal and legal sanctions against perpetrators.