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
Pudgy Penguins NFT surpasses Bored Ape in one month: A quick overview of what the PENGU token is
PENGU is the official token of the Pudgy Penguins NFT series and will be launched on the Solana blockchain by the end of 2024. Pudgy Penguins is an NFT project featuring 8,888 unique penguin images, initially released on Ethereum, and has now become the second-largest NFT project by market capitalization. The launch of PENGU aims to expand the community, attract new users, and is planned for deployment on multiple blockchains. The total token supply is 88,888,888,888, allocated to the community, liquidity pools, project team, and others. Solana was chosen to reach a new audience and leverage its fast transactions and low-cost advantages. Summary generated by Mars AI This summary is generated by the Mars AI model, and the accuracy and completeness of its content are still in the process of iterative improvement.
Glassnode: Bitcoin Weakly Fluctuates, Is Major Volatility Coming?
If signs of seller exhaustion begin to appear, a short-term move towards $95,000 and the short-term holder cost basis is still possible.
Should You Still Believe in Crypto
No industry has always been right from the beginning, until it truly changes the world.
Zeus unveils institutional-grade MPC infrastructure blueprint at Solana Breakpoint 2025, enabling Bitcoin to enter Solana’s on-chain capital markets
The focus will now shift to building MPC tools and providing support for developers, driving the creation of more native UTXO applications on Solana.
Trending news
MoreCrypto prices
More
