Turkey Receives FSB Directive to Strengthen Cryptocurrency Regulation and Implement Stablecoin Framework
Turkey has been called upon by the Financial Stability Board to establish comprehensive stablecoin regulations, enhance cryptocurrency oversight, and strengthen its approach to monitoring risks that could affect financial stability.
Turkey has been called upon by the Financial Stability Board (FSB) to strengthen regulatory oversight of cryptocurrency markets and establish specific regulatory frameworks governing stablecoins.
According to a peer review released on Wednesday, the international financial monitoring organization acknowledged that Turkish regulatory authorities had achieved notable advancement through the implementation of registration protocols and licensing frameworks applicable to cryptocurrency service providers.
The assessment formed part of the FSB's ongoing program of evaluating member jurisdictions and examined Turkey's advancement in adopting the board's 2023 international guidelines concerning cryptocurrencies and stablecoins. This evaluation came after a comprehensive 2025 assessment that identified shortcomings in the manner various jurisdictions had adopted those guidelines.
The FSB put forward recommendations that Turkey should establish a formal framework for monitoring financial stability risks associated with cryptocurrencies, enhance its supervisory and enforcement capabilities, and strengthen collaborative efforts and data exchange with regulatory bodies in other countries.
In March 2025, Turkey's Capital Markets Board implemented licensing frameworks and operational standards for cryptocurrency exchanges and custodial service providers, which included establishing minimum capital requirements.
According to the FSB, Turkey had put in place protective measures that included mandating the segregation of assets under custody and prohibiting the use of cryptocurrencies for domestic payment transactions. These protective measures serve to contain the potential spillover of cryptocurrency-associated risks into banking institutions and payment infrastructure. Regulatory authorities additionally established a centralized monitoring platform designed to track cryptocurrency-related activities.
The FSB's 2025 assessment determined that while Turkey had completed the development of regulations governing crypto assets, the country had not yet established a specific regulatory framework addressing stablecoins.
Turkey's Finance Ministry announced plans in June 2025 to implement enhanced transaction verification procedures and impose restrictions on stablecoin transfer activities as part of efforts to prevent money laundering.