21.02.2025 14:40
A new era is beginning in cryptocurrency transfers in Turkey in the coming days. Under the FATF Travel Rule, it will be mandatory to share the information of both the sender and the recipient. Binance TR users will not be able to make cryptocurrency transfers without providing the necessary information. This regulation will only cover cryptocurrency transfers.
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A new regulation that will fundamentally change the cryptocurrency ecosystem in Turkey will come into effect on February 25, 2025. With the law numbered 9305 published in the Official Gazette, it becomes mandatory to share the information of the sender and receiver in cryptocurrency transfers. All cryptocurrency platforms, especially Binance TR, will request comprehensive identity information from their users, and transactions of users who do not share this information will be automatically canceled.
The Era of Transparency in the Cryptocurrency Market Begins with the FATF Travel Rule
An important change will take place in Turkey's cryptocurrency ecosystem. As of February 25, 2025, under the law numbered 9305, it becomes mandatory to share the information of the sender and receiver in cryptocurrency transfers. With this regulation, cryptocurrency platforms will request comprehensive identity information from their users.
The regulation published in the Official Gazette is based on the Travel Rule proposed by the Financial Action Task Force (FATF). First announced on December 25, 2024, this regulation opens a new chapter in the fight against money laundering and terrorist financing. According to Binance TR's statement, the new rules will only cover cryptocurrency asset transfers; transactions in Turkish Lira and intra-platform buying and selling will not be affected by this change.
Under the regulation, individual users will be asked for personal information such as full name, Turkish ID number, residence address, and date of birth. For corporate clients, corporate identity information such as company title and tax number will be required. Platform officials emphasize that users will be responsible for any issues arising from incomplete or incorrect information entries.
Binance TR announced that it has strengthened its customer service channels to prepare its users for the new regulation. The platform acknowledged that there may be some initial user experience disruptions but stated that necessary measures have been taken to ensure the process runs smoothly.
Market experts evaluate this regulation as an important step in Turkey's compliance with international financial standards. However, concerns about transaction privacy among cryptocurrency users are also being expressed. It is particularly emphasized that transactions with missing or incorrect information will be automatically canceled after February 25, and the consequences of this will be reflected on the user.
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