FSB urges Türkiye to tighten crypto regulations
Key points
- The Financial Stability Board (FSB) has urged Türkiye to strengthen its cryptocurrency and stablecoin regulatory framework.
- Türkiye has introduced licensing requirements for crypto service providers and centralised monitoring of digital asset activities.
- The FSB wants stronger stablecoin oversight, financial risk monitoring, enforcement and international regulatory cooperation.
The Financial Stability Board (FSB) has urged Türkiye to strengthen crypto and stablecoin regulations following a regulatory review.
Turkish authorities have expanded oversight through licensing requirements for crypto service providers and centralised market monitoring.
The FSB found that Türkiye had made meaningful progress but identified further regulatory gaps requiring attention.
The organisation recommends operationalising financial stability monitoring to identify risks emerging from cryptocurrency activities.
Türkiye also needs a dedicated stablecoin regulatory regime, alongside stronger supervision and enforcement measures.
Existing safeguards include strict separation of customer assets and restrictions on cryptocurrency use for domestic payments.
The FSB also wants Turkish authorities to improve cross-border cooperation and information sharing between regulatory agencies.
The review increases pressure on Türkiye to align its cryptocurrency oversight with international financial stability standards.
Frequently asked questions
More from Crypto
Nomura weighs sale of Laser Digital crypto unit
Apex Group joins Hedera Council to advance institutional tokenisation
Bitget Wallet scales AI phishing detection
Deutsche Bank prepares digital asset custody launch
Payward brings 200 UK and EU equities onchain
Kinetiq launches Elysium mainnet for Hyperliquid
-640x358.jpg&w=3840&q=75)
