MASAK’s New Crypto Regulation (Serial No: 29): Turkey Tightens Compliance for Crypto Platforms

On June 28, 2025, the Turkish Financial Crimes Investigation Board (MASAK) published General Communiqué (Serial No: 29) in the Official Gazette, mandating stricter customer due diligence (CDD) procedures for crypto asset service providers. This move is a clear step in Turkey’s strategy to integrate its AML/CFT (Anti-Money Laundering and Counter-Terrorist Financing) framework into the crypto market.

1. What Is the Purpose and Scope of the Communiqué?

The regulation, issued under Law No. 5549, aims to strengthen CDD obligations for crypto asset service providers while gaining control over transfer processes. It is aligned with Turkey’s commitment to FATF standards and its ongoing efforts to standardize the crypto environment.

2. Key Obligations for Crypto Asset Service Providers

a. Enhanced KYC and Risk Management

Crypto platforms must now implement, at minimum, Articles 13(c), (ç), and (e) of the Compliance Regulation during customer onboarding and all transactions requiring identity verification.

b. Transfer Delays and Transaction Limits

Platforms must enforce a 48-hour hold on crypto withdrawals following purchase, swap, or deposit transactions.

For first-time transfers, this hold extends to 72 hours.

Stablecoin transfers will be subject to a daily limit of USD 3,000 and a monthly limit of USD 50,000, with possible increases under specific conditions.

c. Mandatory Transaction Descriptions

All transfers must now include a minimum 20-character transaction note from the customer.

d. Exemptions for Liquidity and Arbitrage Transfers

Transfers related to liquidity provision, market making, and arbitrage may be exempt from the 48/72-hour rules under specific board-approved procedures. However, platforms are required to implement continuous monitoring and oversight for these exemptions.

3. What Happens If Platforms Fail to Comply?

Non-compliance will trigger administrative fines under Law No. 5549, which may impose significant financial penalties depending on platform size and transaction volume. Immediate compliance strategy execution is critical to avoid regulatory risks.

4. Practical Compliance Roadmap for Crypto Platforms

To align your crypto platform with this new regulation, we recommend:

• Update Your Compliance Program: Ensure KYC and risk classification processes align with the new communiqué.

• Automate Transfer Controls: Integrate the 48/72-hour hold periods and transaction limits into your backend to reduce manual error risks.

• Enforce Transaction Notes: Implement API and UI-level requirements to block transfers without the mandatory transaction note.

• Board Approval Procedures: Establish clear workflows for exemptions requiring board approval.

• Staff Training: Train operations, compliance, and regulatory teams on the new rules.

• Conduct Backward-Looking Transaction Audits: Analyze past processes for potential non-compliance risks and document findings.

5. Why You Must Act Now

MASAK’s tighter oversight on crypto transfers mirrors global regulatory trends. Platforms failing to adapt promptly face:

• License suspension or revocation

• Hefty administrative fines

• Deterioration of banking relationships

• Loss of user trust

Conclusion

As the crypto market expands, regulatory pressure follows. MASAK’s Serial No: 29 Communiqué demands Turkish crypto platforms to redesign their compliance infrastructure urgently.

Preparing your crypto platform for these changes will not only ensure regulatory compliance but will also strengthen your competitive advantage in the market.

Next Step: Request Your Crypto Compliance Check-Up

Would you like your crypto platform’s MASAK compliance, transfer limit controls, operational workflows, and AML/CFT risk management processes to be reviewed by an expert team?

📩 Send an email with the subject line “Crypto Compliance Check-Up” to info@ozmconsultancy.com to schedule your assessment and ensure your platform remains compliant and risk-free under the new MASAK regulation.