BONUS - Turkey Crypto Travel Rule: February 2025 Requirements

This episode covers regulatory requirements for Crypto Asset Service Providers (CASPs), focusing on data collection, verification, and sharing during crypto-asset transfers. These regulations aim to enhance transparency and combat financial crime by requiring CASPs to collect originator and beneficiary information, with varying requirements based on transaction amounts. In Turkey, the "Travel Rule," set to take effect in February 2025, mandates data transfers and customer self-declaration for unhosted wallets. The country enforces a 15,000 TL threshold, determining the extent of data collection and verification needed, impacting due diligence procedures. Additionally, CASPs must monitor transactions, screen for sanctions, report suspicious activity to authorities, and retain records for eight years.