Türkiye's new anti-money laundering regulations require KYC for single crypto transactions over $425

PANews reported on December 25 that according to Cointelegraph, Turkey today issued new cryptocurrency anti-money laundering (AML) regulations, which will officially take effect on February 25, 2025. According to the Turkish official gazette, users with a single transaction amount exceeding 15,000 Turkish lira (about 425 US dollars) are required to provide identity information to encryption service providers to prevent illegal money laundering and terrorist financing. The regulations require encryption service providers to collect identity information from customers who have not registered wallet addresses. If sufficient information cannot be obtained, the transaction may be considered "high risk" and may be stopped. At the same time, user information is not required to be collected for transactions below 425 US dollars.