Turkey Crypto Law Gives MASAK Power to Freeze Accounts

Turkey is preparing a new law that could give its financial watchdog, MASAK, the power to freeze both cryptocurrency and regular bank accounts. Cointelegraph reports that this is part of an effort to stop money laundering and other financial crimes. The goal is simple, which is to stop illegal money from moving through the system. MASAK would be able to act fast if it sees any suspicious activity. This Turkey crypto law shows how Turkey wants to make its financial rules stronger and protect its economy.

🇹🇷 LATEST: Turkey is preparing legislation to empower its financial watchdog Masak to freeze crypto and traditional bank accounts in AML crackdown. pic.twitter.com/7k50E3osgQ

— Cointelegraph (@Cointelegraph) September 30, 2025

How the New Law Would Work

If the law passes, MASAK could temporarily freeze accounts when it suspects any illegal activity. This would cover both normal bank accounts and crypto wallets. Banks and crypto exchanges would also have to report any unusual transactions.

Right now, MASAK has only limited power over crypto accounts. With this change, crypto would be treated more like traditional money when it comes to monitoring and control. It would also give authorities more ways to spot and stop crimes early.

Why Turkey Is Acting Now

Cryptocurrency use in Turkey has grown fast. A lot of people use it for investment or trading. While crypto offers new opportunities, it also makes it easier for criminals to move money secretly.

Turkey wants to prevent this. The new law would help stop money laundering, tax evasion and other illegal acts. It also brings Turkey in line with international rules for financial safety. The government has said that it wants to let regular users trade freely while stopping criminals from taking advantage..

How the Industry Reacts

Some crypto users and exchanges are worried. They fear that accounts could be frozen unfairly or without clear rules. But others in finance see it as a need to make the market safe.

If the law passes, exchanges will need to make their reporting and customer checks better. They may have to watch big transactions closely and alert MASAK about anything suspicious. Many experts say that this could make the crypto market more trustworthy in the long run, even if it feels too strict at first.

Balancing Safety and Innovation

Turkey needs to balance two things, which is protecting its financial system and supporting crypto innovation. Cryptocurrency is pretty famous in the country and strict rules could slow down growth. But weak rules could let criminals take advantage too.

Giving MASAK the power to freeze accounts is one way to keep the system safe while still allowing legal crypto activity. It is a step toward clear rules and better oversight. Investors could feel more confident knowing that the government is watching out for any fraud.

Next Steps for Crypto Regulation in Turkey

The law is still being reviewed and could change before it is officially approved. Once in effect, MASAK’s new powers could change how crypto and bank accounts are monitored in Turkey.

Investors and crypto users will need to follow the rules carefully. Staying informed will be key to avoiding any problems. This move shows that Turkey is pretty serious about modernizing its financial system. It also signals that even authorities want to make crypto a safe part of the economy. By acting now, they aim to stop abuse while letting the legal trading continue.

With growing global attention on crypto regulations, Turkey’s law could be a model for other countries looking to balance innovation and safety.