Turkey Said to Consider Granting Authorities Power to Freeze Crypto Accounts Under New AML Rules

Turkey is preparing new anti-money laundering (AML) regulations that would give the country's 
The Financial Crimes Investigation Board (MASAK) has the power to freeze and block access to cryptocurrency accounts. The proposal aims at restraining illegitimate financial activity and strengthening oversight of digital asset markets, and it also aligns with standards set by the Financial Action Task Force (FATF). The measures are designed to focus regulatory attention on the growing crypto sector and are part of a comprehensive government strategy, according to a report. 

Turkey Tightens Crypto Oversight With Proposed AML Rules

A Bloomberg Law report citing sources familiar with the matter said that the proposal is expected to reach the parliament in the coming months. It builds on the earlier steps to tighten oversight, including rules introduced in June that require crypto platforms to collect identifying details for transactions above TRY 15,000 (roughly Rs. 31,300).

Under this framework, withdrawals could be delayed when the details of the sender and the recipient are incorrect. The standard withdrawal process may face a 48-hour hold, while first-time withdrawals from new accounts could take up to 72 hours. 

Authorities also plan to impose daily and monthly caps on stablecoin transfers, which can be $3,000 (roughly Rs. 2.6 lakh) per day and $50,000 (roughly Rs. 44 lakh) per month. Higher limits might be available on platforms that adhere to the Travel Rule, which requires users to share their transaction details. 

The AML package follows the March regulations from the Capital Markets Board (CMB), which brought forward licensing and operational requirements for crypto service providers. Exchanges must hold a minimum of $4.1 million (roughly Rs. 3,63,600 crore) in reserves, while custodians need at least $13.7 million (roughly Rs. 12,15,053 crore). 

Despite stricter rules, Turkey remains an active crypto market. As per the Chainalysis ranking, Turkey stood at 14th position. However, many global exchanges have scaled back. Coinbase withdrew its pre-application to operate in Turkey, and Binance ended its retail referral programme earlier this year. 

As part of wider fiscal measures, Turkish authorities are weighing a 0.03 percent transaction tax on crypto trades, which could boost national revenues without heavily affecting market growth. Finance Minister Şimşek noted, however, that profits from crypto assets are not currently subject to taxation under the government's plans.