Turkey Blocks PancakeSwap Over Unauthorized Crypto Activity
2025/07/04 10:28Turkey’s Capital Markets Board (SPK) has officially blocked access to PancakeSwap, citing unauthorized crypto asset services targeting Turkish residents.
The ban was issued under Article 99/3 and Article 128/1(a) of the Capital Markets Law (No. 6362). These provisions empower the regulator to restrict platforms operating without a license in the country’s financial markets.
Turkey Crypto Regulations Focus on Decentralized Exchanges
PancakeSwap, the leading decentralized exchange (DEX) on the BNB Smart Chain, was listed alongside several other websites in the SPK’s July enforcement bulletin. The regulator ordered Turkish ISPs to block access to the platform.
Following the news, CAKE price dropped nearly 4%.
CAKE Price Chart After Turkey Ban. Source:
BeInCrypto
Authorities say PancakeSwap enables financial transactions, such as token trading, staking, and yield farming, without complying with Turkish licensing requirements.
These activities fall under capital market operations, which require formal regulatory approval in Turkey.
The SPK also ordered the blocking of associated social media accounts and mobile applications, if any, linked to unauthorized financial services.
This action is part of a wider crackdown on unregistered crypto and forex platforms. Over 60 websites were included in the latest enforcement notice, including both centralized and decentralized platforms.
Social Media Post From a Turkish Legal Expert. Source:
X (Formerly Twitter)
Turkish regulators have previously warned investors about the risks of engaging with unlicensed service providers.
PancakeSwap remains operational globally. However, access from within Turkey is now restricted via local internet service providers.
The SPK emphasized that these steps are aimed at protecting investor rights and preventing illegal financial activities in digital asset markets.
More regulatory actions against decentralized protocols may follow as Turkish authorities align their stance with global standards on crypto oversight.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Durov's new project: Want to mine TON on Cocoon? Ordinary people can't afford to play
Want to mine TON on Cocoon? The starting capital is 250,000; ordinary people shouldn't dream of becoming a "computing power landlord."
"If you're afraid, buy bitcoin": BlackRock CEO calls bitcoin a "panic asset", says sovereign funds have quietly increased their holdings
BlackRock CEO Larry Fink defines Bitcoin not as a "hope asset," but as a "panic asset."
Stablecoin Legislation Booms Globally, Why Is China Taking the Opposite Approach? An Article to Understand the Real National Strategic Choices
Amid the global surge in stablecoin legislation, China has chosen to firmly curb stablecoins and other virtual currencies, while accelerating the development of the digital yuan to safeguard national security and monetary sovereignty. Summary generated by Mars AI. This summary is produced by the Mars AI model and its accuracy and completeness are still being iteratively improved.
Liquidity migration begins! Japan becomes the Fed's "reservoir," 120 billions in carry trade returns set to ignite the December crypto market
The Federal Reserve has stopped quantitative tightening and may cut interest rates, while the Bank of Japan plans to raise rates, changing the global liquidity landscape and impacting carry trades and asset pricing. Summary generated by Mars AI. This summary is produced by the Mars AI model, and the accuracy and completeness of its content are still under iterative improvement.
Trending news
MoreCrypto prices
More
