Global Watchdog Tells Turkey to Tighten Crypto Oversight and Write Stablecoin Rules

The Financial Stability Board released a country review on Wednesday saying Turkey should do more to police its crypto sector, including creating dedicated rules for stablecoins. The assessment checks how well Ankara has applied the board’s 2023 global crypto recommendations, and it builds on a wider 2025 study that exposed gaps among many countries. Officials in Turkey earned credit for bringing in registration and licensing for crypto service providers. Next, the FSB wants a formal system to watch for crypto risks to financial stability, firmer supervision and enforcement, and closer information sharing with foreign regulators.

What Turkey Has Already Put in Place

The Capital Markets Board set licensing and operating conditions for exchanges and custodians in March 2025, with minimum capital levels. The FSB also noted rules forcing custodians to keep client assets separate, a ban on crypto payments inside the country, and a central platform for tracking activity. Together these steps help stop crypto troubles from spilling into banks and payment systems.

Stablecoin Rules Remain the Missing Piece

The 2025 review found Turkey had settled its crypto asset rules but had no framework built for stablecoins. In June 2025, the Finance Ministry described plans for extra transaction checks and limits on stablecoin transfers aimed at fighting money laundering.