According to the new rules, if insufficient information is received from the user, the service provider is obliged to “consider refusing to carry out the transfer or limiting transactions.” At the same time, cryptocurrency service providers are not required to collect information on transfers below the threshold of 15,000 Turkish lira ($425), the document states.
All these measures are aimed at preventing the laundering of illegally obtained funds and the financing of terrorism, authorities said.
Türkiye is the fourth largest national cryptocurrency market, behind only the US, India and the UK. Turkey’s Capital Investment Board (CMB) has received 47 license applications from cryptocurrency companies this year.
Earlier, Turkish Vice President Cevdet Yilmaz said that the government abandoned plans to introduce an income tax for cryptocurrency market participants.
Source: Bits
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