11 November 2026
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Despite meaningful progress, Türkiye’s authorities need to make further steps to reinforce the regulatory framework and improve alignment with the FSB Global Regulatory Framework for Crypto-asset Activities.
Turkish authorities have made meaningful progress in enhancing the regulation, supervision and oversight of crypto-asset markets and activities in recent years.
The FSB 2025 thematic peer review showed that Türkiye had finalised a regulatory framework for crypto assets, although not for stablecoins. Since then, authorities have brought a large part of the crypto-asset market within the regulatory perimeter, introducing registration and licensing requirements for crypto-asset service providers (CASPs). Moreover, structural safeguards, such as strict custody separation, and the prohibition on the use of crypto-assets for domestic payments, limit some of the risk transmission channels into payments and banking.
This regulatory framework allows authorities to better understand the business models of CASPs and the channels through which financial stability risks could arise. Authorities have also operationalised a centralised data platform for monitoring crypto-asset activities.
The FSB recommends further steps to reinforce Türkiye’s regulatory framework and improve alignment with the FSB Global Regulatory Framework for Crypto-asset Activities, focusing in particular on operationalising a framework for financial stability monitoring, establishing a dedicated regime for stablecoins, strengthening supervision and enforcement, and promoting effective cross-border cooperation and information sharing.