21.05.2026 07:10
Minister of Treasury and Finance Mehmet Şimşek stated that crypto assets pose a risk for money laundering and transfer of criminal proceeds, and announced that crypto ATMs have been completely banned in Turkey. Şimşek also declared that daily limits of $3,000 and monthly limits of $50,000 have been imposed on stable cryptocurrency transfers. Additionally, he stated that a mandatory waiting period has been introduced for transactions that do not comply with the rules.
Minister of Treasury and Finance Mehmet Şimşek stated that crypto assets create new risk areas in the financial system, making striking remarks. Sharing on his social media account, Şimşek expressed that financial innovation harbors both opportunities and serious threats.
Noting that crypto asset transactions can occur within seconds, Şimşek said these systems enable rapid cross-border money transfers and that some tools can conceal user identities.
Şimşek noted that, according to the Financial Action Task Force (FATF), stablecoins are increasingly preferred by criminal organizations, becoming vulnerable to abuse due to their easy accessibility and value preservation.
“CRIMINALS WILL ALWAYS FIND THE WEAKEST LINK”
Emphasizing that FATF standards must be applied uniformly across all countries, Şimşek stated, “Otherwise, criminals will always find the weakest link.”
COMPLETE BAN ON CRYPTO ATMs IN TÜRKİYE
Stating that Türkiye has taken early steps in the fight against money laundering, Şimşek reminded that crypto asset service providers were included under obligations in 2021.
Announcing that crypto ATMs in Türkiye have been completely banned due to high risks, Şimşek expressed that some practices go beyond FATF recommendations.
LIMITS AND WAITING PERIODS FOR TRANSFERS
Şimşek announced that a daily limit of $3,000 and a monthly limit of $50,000 have been imposed on stable crypto transfers. He also stated that mandatory waiting periods have been implemented for transactions that do not meet travel rule conditions.
Highlighting the importance of international cooperation, Şimşek said that information sharing about suspicious wallets should be done within hours, not weeks.