Law No 194 2020 – A Practical Overview

When talking about Law No 194 2020, the Turkish legislation that sets anti‑money‑laundering (AML) standards for digital asset services. Also known as Turkey’s Crypto AML Law, it forces crypto exchanges, wallet providers and custodians to register, verify users and report suspicious activity. In plain terms, the law creates a legal bridge between traditional finance rules and the fast‑moving crypto world.

One key piece of the puzzle is FinCEN, the U.S. Treasury unit that enforces money‑laundering rules for financial institutions, including crypto businesses. FinCEN’s registration requirements echo many of the duties introduced by Law No 194 2020, such as mandatory Know‑Your‑Customer (KYC) checks and transaction monitoring. The overlap means that firms operating in Turkey often need to align with both Turkish and U.S. compliance frameworks to stay out of trouble.

Another related regime is the Brazil Crypto Regulations, a set of rules that include the Brazilian Virtual Assets Law (BVAL) and consumer‑protection measures for digital assets. While Brazil’s approach focuses heavily on consumer rights and stablecoin oversight, the core AML obligations mirror those in Law No 194 2020. This similarity helps multinational platforms adopt a unified compliance strategy across South America and the Middle East.

Don’t forget the EU Crypto Travel Rule, a regulation that forces crypto service providers to share sender and receiver information for transfers above a set threshold. The Travel Rule’s zero‑threshold variant forces even small transactions to be reported, a step that pushes global standards closer to what Law No 194 2020 already demands for Turkish operators. The rule’s technical requirements, like using encrypted messaging standards, directly influence how Turkish exchanges design their compliance pipelines.

Finally, the Mexico FinTech Law, the legal framework governing fintech and crypto activities in Mexico, including licensing and reporting duties adds another layer of regional nuance. Like Turkey, Mexico requires crypto firms to obtain a specific license and maintain detailed transaction logs. The shared emphasis on licensing and AML reporting means that businesses familiar with Law No 194 2020 can more easily adapt to Mexico’s requirements.

All these pieces—FinCEN, Brazil’s crypto rules, the EU Travel Rule, and Mexico’s FinTech Law—interlock with Law No 194 2020, creating a global compliance web. Below you’ll find articles that break down each element, compare the different jurisdictions, and show you how to build a compliance program that works everywhere you operate.