Financial Stability Board Urges Turkey to Strengthen Crypto and Stablecoin Regulations
The Financial Stability Board (FSB) has called on Turkey to enhance its regulatory framework for crypto assets and stablecoins. In a peer review published on Wednesday, the global financial watchdog acknowledged Turkey's progress in implementing registration and licensing requirements for crypto service providers. However, the FSB identified gaps, particularly concerning a dedicated framework for stablecoins. The review, part of the FSB’s regular country assessments, evaluated Turkey's adherence to the board's 2023 global recommendations on crypto and stablecoins. The FSB recommended that Turkey establish a formal framework for monitoring crypto-related financial stability risks, strengthen supervision and enforcement, and improve international cooperation and information sharing with foreign regulators. Turkey's Capital Markets Board introduced licensing and operational requirements for crypto exchanges and custodians in March 2025, including minimum capital thresholds. Additionally, safeguards such as as...