FSB urges Turkey to tighten crypto oversight and adopt dedicated stablecoin rules
In brief
- FSB peer review urged Turkey to tighten crypto oversight and adopt dedicated stablecoin rules.
- The FSB credited Turkey's registration and licensing requirements for crypto service providers.
- Recommendations include formal risk monitoring, stronger enforcement and information sharing with foreign regulators.
- A 2025 FSB review found Turkey lacked a dedicated stablecoin framework.
What the FSB recommended
The report was part of the FSB's regular program of country reviews and assessed Turkey's progress in implementing the board's 2023 global recommendations on crypto and stablecoins. It followed a broader 2025 review that found gaps in how jurisdictions had implemented those recommendations.
The asks are specific. The FSB recommended that Turkey monitor crypto-related financial stability risks under a formal framework, strengthen supervision and enforcement, and improve cooperation and information sharing with foreign regulators. They're recommendations from the watchdog (not rules Turkey has adopted), and that distinction matters when you read the rest of the report.
Safeguards already in place
The review wasn't all criticism. The FSB said Turkey had introduced safeguards including requirements to segregate assets held in custody and a ban on domestic crypto payments. According to the report, those measures help limit the spread of crypto-related risks to banks and payment systems. Turkish authorities also launched a centralized platform to monitor crypto activities.
Some of that groundwork came in 2025. Turkey's Capital Markets Board introduced licensing and operational requirements for crypto exchanges and custodians in March 2025 (including minimum capital thresholds), according to Cointelegraph's reporting.
The stablecoin gap
Stablecoins are the sticking point.
The FSB's 2025 review found that Turkey had finalized rules for crypto assets but lacked a dedicated stablecoin framework. Cointelegraph reported that Turkey's Finance Ministry outlined plans in June 2025 for additional transaction checks and limits on stablecoin transfers to combat money laundering. That's a transfer-control measure, though, and it isn't the same thing as a standalone rulebook for stablecoins.
Wednesday's call for dedicated stablecoin rules is aimed squarely at that gap.
Frequently asked questions
What did the FSB recommend Turkey do about crypto?
The Financial Stability Board urged Turkey to tighten its oversight of crypto markets and adopt dedicated rules for stablecoins. It recommended monitoring crypto-related financial stability risks under a formal framework, strengthening supervision and enforcement, and improving cooperation and information sharing with foreign regulators.
Does Turkey have rules for stablecoins?
The FSB's 2025 review found that Turkey had finalized rules for crypto assets but lacked a dedicated stablecoin framework. In June 2025, Turkey's Finance Ministry outlined plans for additional transaction checks and limits on stablecoin transfers to combat money laundering, according to Cointelegraph.
