Turkey Imposes Limits on Stablecoin Transfers and Withdrawal Delays

Turkey’s Ministry of Finance has drafted stringent regulations for cryptocurrency transactions to combat money laundering and financial crimes, as reported by local media.

Crypto platforms will be required to collect detailed information on the origin and purpose of each transfer. Users must provide a transaction description of at least 20 characters for each operation.

In cases where the Travel Rule is not applied, platforms will delay most withdrawals for 48 hours and for 72 hours for the first withdrawal from any account.

The ministry will also impose limits on stablecoin transfers to prevent the rapid outflow of illicit funds—$3,000 per day and $50,000 per month. Full compliance with Travel Rule obligations will allow platforms to double these thresholds.

Finance and Treasury Minister Mehmet Şimşek stated that the measures aim to curb criminal misuse without stifling legitimate activity.

“In addition to administrative sanctions, platforms that do not comply with the new rules may face various legal and financial penalties, including denial or revocation of their license,” said the official.

However, transfers related to liquidity provision, market-making, and arbitrage will be exempt from restrictions, provided the source of funds is verified and fully controlled by the platform.

The new rules will form part of Turkey’s increased oversight of crypto asset service providers and align local regulations with international standards. 

Since 2023, the Ministry of Finance announced the implementation of FATF rules in digital currency regulation to remove the country from the “grey list,” where it has been since October 2021.

From February 25, 2025, Turkish users conducting crypto transactions exceeding 15,000 TRY (~$425) will be required to provide identification data to trading platforms.