As the top of 2024 approaches in Turkey, the place regulatory efforts relating to cryptocurrencies proceed, a brand new change has been made.
Whereas this regulation was printed within the official gazette immediately, new obligations had been imposed on cryptocurrency exchanges.
Accordingly, exchanges will now need to always monitor their transactions and clients. As well as, controls on cryptocurrency transfers have been elevated and exchanges have been required to confirm their identities for transactions of 15 thousand TL and above.
Accordingly, complete identification verification has been made obligatory for cryptocurrency transfers exceeding 15 thousand TL. On this context, the sender must current their title, surname, commerce registry info, pockets deal with, and citizenship or passport quantity.
In transfers between exchanges, if the trade receiving the transaction can not verify the sender’s info, it could categorize the crypto switch as dangerous and ship it again.
“If ample info can’t be obtained, consideration shall be given to not performing the switch, limiting transactions with the monetary establishment in query, or terminating the enterprise relationship.”
It was acknowledged that the brand new regulation goals to stop cash laundering and terrorist financing.
These new laws are deliberate to come back into power on February 25, 2025. It was acknowledged that these complete adjustments purpose to make the cryptocurrency market extra clear and safe.
*This isn’t funding recommendation.
