Turkey Tightens Oversight on Crypto Platforms with New Guidelines

Highlights:

• Turkey has implemented new laws to improve transparency and protect crypto users.
• Crypto companies must keep detailed records of their transactions and provide account statements to their customers.
• Companies that do not comply might face fines or prison sentences for their executives.

The Turkish government has implemented stronger standards for crypto asset service provider operations. The Capital Markets Board will handle all licensing responsibilities and operational oversight, along with compliance tasks for asset service providers. The framework launched today introduced new laws to improve transparency and boost security. The new measures are an addition to the already existing initiatives that the government has taken to control virtual asset markets and fight fraud.

NEW: 🇹🇷Turkey enhances its #crypto oversight, implementing new rules that place exchanges & investors under the full supervision of the Capital Markets Board with heightened compliance standards. 👀 pic.twitter.com/Egl0h76X1k

— CryptosRus (@CryptosR_Us) March 13, 2025

Every crypto operator needs to maintain records showing a complete description of their transaction activities. The crypto platform must produce numbered documentation to show asset types and quantity data. In addition, they must provide the cost information, transaction expenses, and commission rates.

The platform must deliver detailed payment breakdowns and sales activities as monthly account statements to its users. The requirements allow customers to get accurate financial information presented in clear terms.

New Operational Standards for Platforms in Turkey

The ban prevents exchanges along with crypto platforms from conducting transactions through social media applications, including Telegram and X. The system requires customers to place orders exclusively through official websites or mobile applications. This change will eliminate illegal trading and help create a more secure environment for users. Furthermore, service providers are not allowed to make misleading claims about the projected profits.

In addition to these restrictions, crypto businesses must adhere to financial limitations. The government has strict limitations that prevent the businesses from both accepting deposits and participating in commercial real estate deals. The rules serve to safeguard customer interests and maintain stability in the digital asset space.

Non-compliance carries strict penalties as companies will be subject to fines up to $182,600. Failure to have proper business authorization could trigger jail time for operators. The enforcement measures will drive companies to better their internal control systems and maintain full compliance with the current regulations.

Strengthening Compliance to Align With Global Standards

The Turkish oversight system matches the initiatives to enhance the management of virtual assets. The framework complies with global standards that match the requirements of Europe’s Markets in Crypto-Assets Regulation (MiCA) and the recently implemented laws in the United States. The authorities will use the improved record systems and transaction tracking to minimize money laundering activities.

The Turkish government enforced anti-money laundering strategies through which crypto platforms must conduct identity checks for transactions above 15,000 Turkish liras ($409) in December 2024. The latest framework expands these efforts by mandating that platforms maintain transaction records. This includes canceled or unexecuted trades. These additional requirements improve accountability and ensure better monitoring of financial activities.

Many international crypto firms are working to meet the new conditions in Turkey. The licensing authority has received 47 applications from exchanges that want to continue their operations within Turkey. The implementation of new requirements by the country demands businesses to upgrade internal procedures and build more robust compliance systems.

Crypto service providers must follow the new standards set by these regulations. Stricter oversight will ensure businesses work with total transparency and protect their customers.