Add as a preferred source on GoogleFSB Urges Turkey to Establish Stablecoin Rules and Strengthen Oversight
The review also calls for a financial stability monitoring framework, stronger enforcement and more cross-border information sharing.
The Financial Stability Board (FSB) urged Turkey to establish a dedicated stablecoin regulatory framework, alongside stronger monitoring and enforcement across the country's crypto sector.
The FSB review found that Turkey has brought most crypto-asset markets under regulation and requires crypto-asset service providers to register and obtain licenses. Turkish authorities also require custody assets to be strictly separated and prohibit crypto assets from domestic payments. The review said custody segregation and the ban on domestic crypto payments limit some channels through which risks could spread to payment and banking systems. Authorities have also established a centralized platform to monitor crypto activity.
The FSB called for Turkey to put a financial stability monitoring framework into operation, strengthen supervision and enforcement, and improve cross-border cooperation and information sharing.
The FSB has previously highlighted stablecoin liquidity and operational risks.
Riza Dagoc
Riza Dagoc reports on regulation, investing and the digital-asset business for TokenPost. Send corrections or tips to info@tokenpost.com.