Türkiye’s new anti-money laundering regulations require KYC for a single crypto transaction exceeding $425

PANews reported on December 25 that according to Cointelegraph, Turkey today issued new cryptocurrency anti-money laundering (AML) regulations, which will officially take effect on February 25, 2025. According to Turkey’s official gazette, users with a single transaction amount exceeding 15,000 Turkish Liras (approximately US$425) are required to provide identity information to encryption service providers to prevent illegal money laundering and terrorist financing. Regulations require crypto service providers to collect identity information from customers who do not have registered wallet addresses. If sufficient information cannot be obtained, transactions can be considered "high risk" and may be stopped. At the same time, no user information is required to be collected for transactions under $425.