On 29 September 2025 Turkey announced a draft law to expand the powers of its financial crime watchdog. The proposal would grant the Financial Crimes Investigation Board (Masak) authority to block both bank and cryptocurrency accounts, altering how accounts can be accessed and how anti bribery rules are applied.
According to Bloomberg, the draft grants Masak power to “freeze as well as restrict access to bank and cryptocurrency accounts” in order to fight money laundering besides other financial crime. The move aims to meet Financial Action Task Force (FATF) standards, with tighter know-your-customer checks and closer tracking of on chain transfers or fiat gateways expected.
Turkey still lets citizens buy, sell and hold crypto assets, but does not treat them as legal money. The national unit that probes financial crime and coordinates anti money laundering work would gain the right to act instantly against assets held by banks or trading platforms. As Bloomberg, quoting officials, writes: “Turkey is preparing to give its financial crime watchdog Masak expanded powers to freeze and restrict access to bank plus cryptocurrency accounts.”
Turkey Moves to Expand Masak’s Authority Over Bank and Crypto Accounts Amid FATF Pressure
Faster disruption of suspect flows is expected, as immediate freezes can hit alleged laundering networks, Bloomberg notes. This rapid-response capability would change how quickly authorities can intervene in ongoing financial crime cases.
Liquidity and trust at risk, since repeated or wide freezes may cut user deposits and shrink order books on local exchanges. Such measures could pressure market depth and customer confidence on Turkish platforms.
Higher compliance load will likely fall on custodians, exchanges and banks, which must tighten controls, customer checks as well as audits to avoid having accounts blocked. This may involve more rigorous monitoring of both fiat and on-chain activity.
Due-process questions may arise, as lawyers caution that unless clear procedures are set, the new powers could expose both the state and firms to legal challenges. Transparent criteria and appeal mechanisms would be central to mitigate conflict.
The FATF standards are cited as the regulatory motive, and both traditional bank balances besides exchange wallets fall under the measure. Crypto-assets remain permissible in Turkey but still lack legal tender status, and the bill’s submission to Parliament is the immediate next step.
Parliament is set to receive the bill within weeks The debate and vote will fix the exact reach of Masak’s new authority and set the operational duties for banks, trading platforms and compliance officers across Turkey.
