As it has become known today, Türkiye introduces stricter anti-money laundering (AML) regulations regarding cryptocurrencies. In particular, starting from February 25, 2025, users who make transactions of more than 15,000 Turkish Liras, equivalent to 425 US dollars, will be required to provide their identity information to cryptocurrency service providers in the country.

Interestingly, great Ethereum (ETH) A withdrawal was observed on the popular Turkish cryptocurrency exchange BTCTurk today. According to a report by Whale Alert, 20,000 ETH, equivalent to 69.87 million, was withdrawn from the exchange to an unknown wallet under the address “0x76eC.”

What can we say about the recipient? The address is likely new and no transactions have occurred to date. However, all transactions today were made with the participation of BTCTurk.

On the one hand, this may mean that the address belongs to the exchange itself. However, on the other hand, it may also be the portfolio of a large investor who moves money in relation to the latest news.

According to summer data from Kaiko, the Turkish lira has become the world's third-largest fiat currency in terms of cryptocurrency trading volume - amid rising inflation and a weak Turkish lira. The share of the Turkish lira in Cryptocurrency The market reached a record high of 19% in the first half of 2024.

We anticipate that some disruption may lie ahead due to new regulations and the volume of work Turkish crypto market. However, given the dynamics of cryptocurrency prices in recent days, this regulatory FUD is unlikely to have a significant impact on quotes.