Turkey to Limit Stablecoin Transfers and Impose Withdrawal Delays

Turkish authorities are preparing a major crackdown on money laundering through cryptocurrency. Under the direction of Finance Minister Mehmet Şimşek, the Ministry of Treasury and Finance will require all crypto exchanges to scrutinize every transaction. Users transferring stablecoins or bitcoin will need to provide a transaction purpose of at least twenty characters so that platforms can verify the source and destination of funds.

If the “travel rule” is not met, withdrawals will be automatically delayed by two days in standard cases and by three days for first-time withdrawals from new accounts. Experts say this measure will prevent quick transfers of illicit sums and reduce the risk of financial fraud. Exchanges will receive full details of each transfer and will have the authority to block any suspicious operation.

In addition to new reporting requirements, authorities aim to curb large stablecoin transfers by introducing a daily limit of USD 3,000 and a monthly cap of USD 50,000. Both limits can be doubled if all identification and verification rules are fully complied with. Violators may face license revocation, legal proceedings, or complete project shutdowns.

Officials assure that honest traders and market makers will not be impeded: liquidity-providing operations for market making and arbitrage will remain exempt from limits under strict internal controls. These new rules are designed to make Turkey’s crypto market safer for ordinary users and to align its regulations with European and U.S. best practices.

Since late February, all crypto transactions over TRY 15,000 have required mandatory identity verification. The upcoming changes signal an even tougher stance, closing loopholes used by opaque schemes.