The Financial Stability Board (FSB) urged Turkey to tighten its oversight of crypto markets and adopt dedicated rules for stablecoins.
In a peer review published on Wednesday, the global financial watchdog said Turkish authorities had made progress by introducing registration and licensing requirements for crypto service providers.
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 FSB recommended that Turkey begin monitoring crypto-related risks to financial stability under a formal framework, strengthen supervision and enforcement, and improve 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.
The FSB said Turkey had introduced safeguards including requirements to segregate assets held in custody and a ban on domestic crypto payments. The safeguards help limit the spread of crypto-related risks to banks and payment systems. Authorities also launched a centralized platform to monitor crypto activities.
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 to introduce additional transaction checks and limits on stablecoin transfers to combat money laundering.
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