The Financial Stability Board (FSB) has urged Turkey to strengthen its oversight of crypto markets and adopt dedicated rules for stablecoins.

In a peer review published on Wednesday, the global financial watchdog said Turkish authorities had made progress by introducing registration and licensing requirements for crypto service providers.

The report formed part of the FSB's routine series of country reviews and evaluated how far Turkey has put into practice the board's 2023 global recommendations on crypto and stablecoins. It came after a wider 2025 review that identified shortcomings in how jurisdictions had applied those recommendations.

The FSB advised Turkey to start monitoring crypto-related risks to financial stability within a formal framework, reinforce supervision and enforcement, and enhance cooperation and information sharing with foreign regulators.

Turkey's Capital Markets Board brought in licensing and operational requirements for crypto exchanges and custodians in March 2025, including minimum capital thresholds.

The FSB noted that Turkey had adopted safeguards, including rules requiring assets held in custody to be segregated and a prohibition on domestic crypto payments. These measures help curb the transmission of crypto-related risks to banks and payment systems. Authorities have also set up a centralized platform to monitor crypto activity.

The FSB's 2025 review found that Turkey had finalized rules for crypto assets but still lacked a dedicated stablecoin framework.

In June 2025, Turkey's Finance Ministry set out plans to add transaction checks and limits on stablecoin transfers to combat money laundering.