Turkey strengthens regulation of Crypto Assets, verifying the source and purpose of transactions.

According to Cointelegraph, Turkey's Ministry of Finance plans to implement stricter cryptocurrency regulations to combat money laundering and financial crimes. The new rules require crypto platforms to collect information about the source and purpose of each transfer, and users are required to provide a transaction description of at least 20 characters. In addition, most withdrawals will have a 48-hour delay, and the first withdrawal will take 72 hours. The new rules will also set limits on stablecoin transfers: $3,000 per day and $50,000 per month for ordinary users; Platforms that fully comply with the "travel rules" are entitled to double the limit. Transfers related to liquidity provision, market making, and arbitrage are exempt from these restrictions under the platform's monitoring.