TUR FIU AML/CFT on Cryptocurrency

On May 3, TUR FIU issued TUR GVT amendments to AML legislation.

  • TUR GVT issued presidential decree making amendments to Article 4 of the Regulation on Measures to Prevent Laundering Proceeds of Crime and the Financing of Terrorism.
  • Amendments add crypto asset service providers and savings finance companies to the list of institutions required to abide by money laundering/terrorist financing law.
  • Background
  • Follows FDD Apr. 27, on collapse of 3 Turkish cryptocurrency exchanges see #104074.
  • Also follows TUR CB Apr. 2021, rule banning payments in crypto assets, see #102985.
  • Effectiveness
  • The AML amendments take effect on date of official publication (i.e. on May 1, 2021).

Regulators TUR FIU; TUR GVT
Entity Types B/D; Bank; CNSM; Corp; Exch; MSB
Reference OG 31471, 1/5/2021; Fintech;
Functions AML; Financial; Reporting; Risk; Technology; Treasury
Countries Turkey
Products Banking; Corporate; Cryptocurrency; Payments
Regions EMEA
Rule Type Final
Rule Date 5/3/2021
Effective Date 5/1/2021
Rule Id 104357
Linked to Rule :102985
Reg. Last Update 5/3/2021
Report Section International

Last substantive update on 05/03/2021