Turkish financial regulators have blocked access to decentralized exchange tensioning cookies and 45 other crypto-related websites as part of a broader performance against unauthorized digital assets services.
In a bulletin of 3 July, the Capital Markets Board (SPK) announced legal steps against the websites, stating provisions of the Turkish Capital Markets Law.
The supervisor said that the intended platforms provided crypto services to residents without the required authorization.
Pancakeswap, who reported more than $ 325 billion in trade volume for June, belongs to the world’s largest DEXs alongside Uniswap. It remains unclear how the Turkish authorities have established that the Platform immediately offered services in the country.
Other blocked sites were cryptoradar and various investment and trading platforms, as a result of the tightening of Turkey supervision of the crypto sector.
According to legal changes that have been implemented since March, the SPK has the entire authority on Crypto activists who offer products to Turkish residents, enforcing standards and compliance requirements.
The country has adopted a strict attitude about crypto payments since prohibiting the use of their purchases in 2021. However, residents can still buy, keep and trade digital assets.
Earlier this year, Turkey forced crypto users to provide identifying information for transactions above around $ 425.
Worldwide, countries such as Kazakhstan, Venezuela, Russia and the Philippines have also blocked crypto-related websites, which have quoted unauthorized activities and illegal transaction risks.
Turkey’s regulatory approach is part of its broader strategy to formalize and control digital asset markets in the midst of rising acceptance.