Turkey Blocks PancakeSwap Over Unauthorized Crypto Activity

Turkey’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%.

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.

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
TRON Leads Blockchain Fees in 30 Days, Surpassing Ethereum by 28%

DeFi Beginner’s Guide (Part 1): How AAVE Whales Use $10 Million to Arbitrage Interest Rate Spreads and Achieve 100% APR
A quick introduction to DeFi, analyzing the returns and risks of different strategies based on real trading data from DeFi whales.

Rate Cuts Could Spur Bitcoin Gains as Analysts Forecast Multiple Fed Cuts in 2025

Trending news
MoreCrypto prices
More








