Turkey Introduces Virtual Asset Regulation Bill... Strict Regulation on Money Laundering
YM Lee
Summary
- Turkey has introduced a virtual asset regulation bill, stating that users conducting virtual asset transactions exceeding 15,000 Turkish Lira must share identification information with virtual asset service providers.
- This regulation aims to prevent money laundering (AML) and illegal terrorist financing, demonstrating the government's strong intention to strictly manage virtual assets.
- The new bill is scheduled to take effect on February 25, and it is expected to enhance the reliability of virtual assets for investors.
Ahead of the European Union's comprehensive virtual asset regulation MiCA coming into effect next week, Turkey has introduced a new virtual asset (cryptocurrency) regulation bill.
According to a report by Cointelegraph on the 25th (local time), under the new regulations, users conducting virtual asset transactions exceeding 15,000 Turkish Lira (approximately $425) must share identification information with virtual asset service providers. The new regulations aim to prevent money laundering (AML) and illegal terrorist financing.
The new Turkish regulation bill is scheduled to take effect on February 25.
YM Lee
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