Türkiye plans to strengthen encryption supervision, delay cash withdrawal for 48 hours and set transfer limit

BlockBeats news, on June 24, according to Cointelgraph, Türkiye's Ministry of Finance plans to implement stricter measures to regulate cryptocurrencies to combat money laundering and financial crimes. The new regulations require encrypted platforms to collect information on the source and purpose of each transfer, and users must provide a transaction description of at least 20 characters. In addition, most withdrawals will be subject to a 48 hour delay, and the first withdrawal will require a waiting time of 72 hours. The new regulations will also set limits for stablecoin transfers: a daily limit of $3000 and a monthly limit of $50000 for ordinary users; Platforms that fully comply with the 'travel rules' can use double limits, and transfers related to liquidity provision, market making, and arbitrage can be exempted from these restrictions under platform monitoring.