The Financial Stability Board (FSB) has recommended that Türkiye further strengthen its regulatory framework for crypto-assets and stablecoins to align with global standards. In its second peer review of Türkiye, the FSB acknowledged meaningful progress made by Turkish authorities in enhancing regulation, supervision, and oversight of crypto-asset markets since its 2025 review.
Key advancements include bringing a significant portion of the crypto-asset market under regulatory oversight, introducing registration and licensing requirements for crypto-asset service providers (CASPs), and implementing structural safeguards like strict custody separation. Additionally, a centralised data platform has been operationalised to monitor crypto-asset activities, providing authorities with better insights into potential financial stability risks.
Despite these achievements, the FSB identified areas for improvement. It recommended that Türkiye operationalise a financial stability monitoring framework, establish a dedicated regime for stablecoins, strengthen supervision and enforcement mechanisms, and promote cross-border cooperation and information sharing to further reinforce its regulatory framework.
The FSB's recommendations are part of its broader efforts to address financial stability risks associated with crypto-assets, following the global regulatory framework finalised in July 2023. Türkiye volunteered for this peer review as part of its commitment to adhering to international financial standards.