Türkiye Enforces Remote Identity Verification for Crypto Asset Transactions
Cryptocurrency Regulations
A significant legal shift has taken effect for crypto investors in Türkiye, as remote identity verification is now mandatory and permanent for all transactions involving crypto asset service providers. The move, announced in the Official Gazette, establishes clear legal ground for identity checks that were previously considered temporary.
The updated regulation, issued by the Ministry of Treasury and Finance, expands the scope of MASAK (Financial Crimes Investigation Board) directives. Initially applicable only to capital markets, the rule now includes crypto transactions, reinforcing KYC (Know Your Customer) requirements in the digital asset space.
Expanded Scope Brings Crypto Under Regulatory Oversight
The provision previously titled “Remote Identification in Capital Market Transactions” has been updated to “Remote Identification in Capital Market and Crypto Asset Service Provider Transactions.” This wording officially brings crypto platforms under the same compliance obligations as traditional financial institutions.
Under the new regulation, crypto exchanges must verify customer identities during onboarding or continuous business relationships. Required information — including full name, date of birth, national ID number, and address — must be validated through the Identity Sharing System maintained by the General Directorate of Population and Citizenship Affairs under the Ministry of Interior.
A New Era of Crypto Compliance and Transparency
This update signals a decisive step toward greater transparency, accountability, and user protection in Türkiye’s cryptocurrency market. By making remote identity verification permanent, authorities aim to combat financial crimes, especially money laundering and fraud, while aligning with international compliance standards.
Crypto users in Türkiye will now be unable to trade, deposit, or withdraw without first completing identity verification, marking the beginning of a more secure and regulated crypto environment.
