LONDON, Nov 11 : Turkey needs to further strengthen its regulatory framework for crypto assets and stablecoins to address potential financial stability risks linked to the fast-growing sector, the G20’s Financial Stability Board said on Wednesday.

In a review of Turkey’s implementation of international standards for crypto assets, the global financial watchdog said the country had made “meaningful progress” by putting much of the crypto market under regulatory oversight.

But it said further action was needed to improve alignment with the FSB’s global recommendations and address the risks of a largely retail investor-driven sector that saw nearly $200 billion worth of transactions last year, according to the review.

It highlighted that…