FSB urgest Turkey to tighten crypto oversight, set stablecoin rules
Summary
The Financial Stability Board called on Turkey to strengthen crypto oversight and create dedicated stablecoin rules. It credited Turkey with licensing requirements for exchanges and custodians, asset-segregation safeguards, a ban on domestic crypto payments and a centralized crypto-monitoring platform. The FSB recommended a formal framework for tracking financial-stability risks, stronger supervision and enforcement, and better cooperation with foreign regulators. Turkey still lacks a dedicated stablecoin framework; its Finance Ministry has proposed additional transaction checks and limits on stablecoin transfers to combat money laundering.
