The international body in charge of financial stability called out Turkey today, urging it to create a separate set of rules for stablecoins.
First, let’s look at the scale of the market. Turkey’s crypto trading volume is expected to reach nearly $200 billion in 2025, with more than 5.3 million people holding accounts. Dollar-backed stablecoins account for 17% of trading. By contrast, lira-backed stablecoins have a total market cap of just $5.9 million—basically nobody wants them.
The message is pretty clear: people want dollars, not lira.
Turkey has already taken action. Some stablecoin transfers are capped at $3,000 a day and $50,000 a month, and using crypto to make payments domestically is also prohibited. With this latest push from the international community, the rules will only get more and more detailed.
This won’t have much direct impact on crypto prices, but the direction is clear. Countries are bringing USDT under banking-style regulation: transactions in and out must be reported, and there are limits. Before long, using USDT will feel less and less like using cash.
That $5.9 million is less than the trading volume of some shitcoins in a single hour.
BTC is at 73962 now. I’ll change my tune only once it gets back above 75535. #FSB敦促土耳其建立稳定币框架
First, let’s look at the scale of the market. Turkey’s crypto trading volume is expected to reach nearly $200 billion in 2025, with more than 5.3 million people holding accounts. Dollar-backed stablecoins account for 17% of trading. By contrast, lira-backed stablecoins have a total market cap of just $5.9 million—basically nobody wants them.
The message is pretty clear: people want dollars, not lira.
Turkey has already taken action. Some stablecoin transfers are capped at $3,000 a day and $50,000 a month, and using crypto to make payments domestically is also prohibited. With this latest push from the international community, the rules will only get more and more detailed.
This won’t have much direct impact on crypto prices, but the direction is clear. Countries are bringing USDT under banking-style regulation: transactions in and out must be reported, and there are limits. Before long, using USDT will feel less and less like using cash.
That $5.9 million is less than the trading volume of some shitcoins in a single hour.
BTC is at 73962 now. I’ll change my tune only once it gets back above 75535. #FSB敦促土耳其建立稳定币框架
