rewrite this title Binance Turkey Implements 72-Hour Withdrawal Hold on Crypto Assets

Binance Turkey has announced a significant change to its withdrawal policy, introducing a 72-hour waiting period for cryptocurrency withdrawals. This measure, effective July 4th, is a direct response to a new General Communiqué from the Financial Crimes Investigation Board (MASAK) published in the Official Gazette on June 28th.

The move aims to enhance user security and ensure full compliance with legal obligations, particularly in the fight against money laundering.

What Does This Mean for Users?

Simply put, users will now experience a delay when withdrawing their crypto assets. The 72-hour waiting period applies to all cryptocurrency withdrawals initiated from Binance TR. It’s important to note that this new rule does not affect Turkish Lira (TRY) withdrawals to banks.

Furthermore, transfers made via the Binance Transfer feature to crypto wallets linked to the same Turkish ID number are also exempt from this waiting period.

How the Waiting Period Works

As of July 4th at 3:00 PM (Istanbul time), the 72-hour hold is in effect. This means:

Any new crypto asset deposits to a user’s account.

Crypto balances resulting from new buy or swap transactions.

These funds will be subject to the initial 72-hour waiting period before they can be withdrawn.

After the initial 72-hour hold and a subsequent withdrawal or transfer, the waiting period for any remaining crypto assets in the account, or for new crypto assets entering the account, will be reduced to 48 hours for future withdrawals.

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