New Identification Requirement for Crypto Transactions Over a Certain Limit in Turkiye

Türkiye has introduced a crucial update to its financial regulations that significantly affects how crypto transactions are handled across the country. Starting in 2025, any crypto transfer exceeding 15,000 Turkish Liras will trigger a mandatory identity verification process under revised anti-money laundering and counter-terrorism financing legislation. This development marks a major step forward in Türkiye’s efforts to align its FinTech policies with global standards and signals a more institutional approach to crypto oversight.

The Path to Regulation: From Digital Wallets to Full Compliance

In recent years, Türkiye has rapidly modernized its financial ecosystem. The expansion of digital banking services, the official recognition of digital wallets, and the restructuring of participation banks have all laid the groundwork for a robust FinTech infrastructure. These efforts culminated in the enactment of the long-awaited Crypto Law (Law No. 7518), which amended the Capital Markets Law and provided a clearer legal basis for regulating crypto asset activities.

This law has empowered the Capital Markets Board (CMB) to act as the chief regulatory body overseeing crypto asset service providers. Alongside recent decisions by the Financial Action Task Force (FATF) and the removal of Türkiye from its grey list, these reforms have given momentum to a stricter compliance regime for both domestic and international crypto players.

Introducing the 15,000 TRY Threshold for Mandatory Identification

As of January 1, 2025, Türkiye’s Regulation on Measures for the Prevention of Laundering Proceeds of Crime and Financing of Terrorism has been updated through Presidential Decree No. 9305. Published in the Official Gazette No. 32763 on December 25, 2024, this amendment introduces a specific monetary threshold for the mandatory identification of crypto users.

From this point forward, all crypto transactions exceeding 15,000 TRY will require full user identification. The rule applies not only to individual transactions but also to a series of linked transactions that cumulatively surpass this threshold. The goal is to eliminate anonymity in high-value crypto transfers and bring them in line with the country’s broader financial transparency objectives.

What Counts as Valid Identification?

Crypto service providers must now perform KYC (Know Your Customer) checks when the transfer amount hits or exceeds the designated limit. In the case of Turkish nationals, acceptable forms of identification include:

• A Turkish identity card

• A Turkish driver’s license

• A valid Turkish passport

• A Turkish residence permit

• Other identity documents officially recognized by Turkish legislation

For foreign users, equivalent documents showing nationality, identity, and photograph will be required, along with any supporting documents that allow identity verification under Turkish law.

These providers are now officially considered “liable institutions” under Article 4 of the Regulation, placing them under the direct supervision of the Financial Crimes Investigation Board (MASAK), operating under the Ministry of Treasury and Finance.

Why This Matters for Crypto Platforms and Users

This regulatory update introduces a more risk-averse and compliance-driven environment for crypto operations in Türkiye. While the crypto sector has often been criticized for enabling anonymous, cross-border transactions, Turkish authorities now seek to minimize its exposure to illicit finance. Requiring verified identity checks is a logical extension of the country’s broader digital transformation policies and reflects a desire to balance innovation with accountability.

One of the most notable impacts of this new threshold and broader regulatory framework is the narrowing of legal gray areas in Türkiye’s crypto legislation. In the past, the absence of clear rules often allowed individuals and platforms to exploit loopholes, leading to compliance inconsistencies and enforcement challenges. With the 15,000 TRY identification requirement now in place, regulatory ambiguity has significantly decreased, making it harder for bad actors to misuse the system. This clarity is expected to bolster investor confidence and foster a more stable environment for legitimate crypto activity.

It’s important to note that this does not ban small-scale crypto transactions or personal use. However, it does strictly prohibit unverified, remote transactions above the 15,000 TRY threshold. Platforms that fail to comply may face heavy administrative fines or even criminal investigations.

Implications for FinTech and Blockchain Businesses

For crypto exchanges and blockchain service providers operating in Türkiye—or planning to enter the Turkish market—this change demands an immediate upgrade in compliance infrastructure. KYC/AML systems must be fully adapted to Turkish regulations, and backend operations must be able to detect and monitor aggregate transaction values across multiple accounts or wallets.

International investors, digital asset custodians, and wallet operators should also be aware of Türkiye’s evolving crypto regulations, particularly in the context of the country’s broader ambitions to position itself as a FinTech hub for the region.