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Turkey Tightens Crypto Regulations As Turkish Lira Continues To Depreciate

  • The Ministry of Treasury and Finance of Turkey announced new stringent measures to regulate digital asset transactions and combat money laundering.
  • The regulations include a requirement for a 20-character transfer note for all crypto transactions and impose a 48-72 hour withdrawal delay for platforms that do not comply.
  • Daily and monthly limits on stablecoin transactions have been set at $3000 and $50,000, respectively.
  • Turkey has granted its Capital Markets Board complete control over crypto asset service providers, aiming to tighten oversight of the rapidly growing crypto market.

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