365Crypto
Turkey’s top financial regulator just slammed the brakes on PancakeSwap.
The Capital Markets Board (CMB), which oversees financial markets in Turkey, blocked 46 crypto websites. The reason? These platforms were offering “unauthorized crypto services” to Turkish users.
One of the biggest names on the list was PancakeSwap — a major decentralized exchange (DEX) that processed over $325 billion in trades last month alone.
The board cited its power under Turkey’s Capital Markets Law to justify the crackdown. But it didn’t explain why PancakeSwap’s services were flagged as unauthorized.
📉 What’s a DEX?
A decentralized exchange lets users trade crypto directly with each other. No middlemen. No central control.
Turkey isn’t alone. Countries like Kazakhstan, Venezuela, and Russia have also blocked crypto sites in the name of regulation or security.
Since March, Turkey has had strict control over platforms offering crypto services. Residents must share ID info for any crypto transaction over $425.
Turks can still buy and trade crypto. But using digital currencies for payments? That’s been banned since 2021.
