Latest news with #TürkiyeCumhuriyeti
CNA
24-06-2025
- Business
- CNA
Turkey taking crypto transaction steps to hinder laundering, Simsek says
ISTANBUL :Turkey is taking steps to prevent the laundering of criminal proceeds from illegal betting and fraud through cryptocurrency transactions, Finance Minister Mehmet Simsek said on Tuesday. On his X account, he reposted an article by state-owned Anadolu news agency saying Turkey was preparing to introduce transfer limits and mandatory waiting periods for withdrawals on crypto assets. It said the new steps will include waiting periods of 48 to 72 hours for crypto withdrawals where the travel rule - requiring the verification of information on the sender and recipient of a transaction - is not applied. "We are taking new steps to prevent the laundering of criminal proceeds obtained from illegal betting and fraud through cryptocurrency transactions," Simsek said. "Administrative, legal, and financial sanctions will be imposed on non-compliant platforms," he added. The daily limit on the transfer of stablecoins, a type of cryptocurrency designed to maintain a constant value, will be capped at $3,000, with a monthly limit of $50,000, Anadolu said. The travel rule is a set of guidelines designed to prevent money laundering, that mandates virtual asset service providers to obtain and disclose precise details pertaining to the sender and recipient of a virtual asset transfer.
Asharq Al-Awsat
17-05-2025
- Business
- Asharq Al-Awsat
Türkiye Finds New Natural Gas Reserve in Black Sea
Türkiye has discovered a new reserve of 75 billion cubic metres (bcm) of natural gas during drilling works in the Black Sea, President Tayyip Erdogan said on Saturday. "With this discovery, we will meet the natural gas needs of homes in Türkiye for 3.5 years," Erdogan said during an event in Istanbul, Reuters reported. The discovery, with an economic value of around $30 billion, was found in the Goktepe-3 well at a depth of 3,500 metres, Erdogan said. Türkiye's daily natural gas production at its flagship Sakarya field in the Black Sea has reached around 9.5 million cubic metres, as the country ramps up its energy ambitions both at home and abroad. Türkiye, which imports over 90% of its energy needs, is pushing to cut its import bill and boost supply security by developing domestic resources and expanding international partnerships in oil and gas exploration.
