Turkish authorities have blocked access to 46 websites providing unauthorized crypto asset services, including the popular decentralized exchange PancakeSwap. The move was announced by the Capital Markets Board of Turkey, which is responsible for regulating financial markets in the country. The regulator cited the country’s Capital Markets Law as the basis for the crackdown, indicating that these platforms were operating without proper authorization. PancakeSwap, along with others, was identified as offering services to Turkish residents without registration, which aligns with similar actions taken by governments in various countries, including Kazakhstan and Russia. Although Turkish residents can still buy, hold, and trade cryptocurrencies, they are restricted from engaging with certain crypto services due to regulatory measures. Despite PancakeSwap being one of the significant decentralized exchanges by trading volume, it's unclear how Turkish authorities determined the platform's services as unauthorized. This enforcement action reflects ongoing efforts by Turkish regulators to tighten regulations on crypto service providers since the establishment of a regulatory framework earlier in the year.

Source 🔗