Turkey Bans PancakeSwap and 45 Crypto Sites in Regulatory Crackdown

Turkey's Capital Markets Board (SPK) has blocked access to PancakeSwap and 45 other cryptocurrency platforms, marking its first enforcement action against a decentralized exchange. The move signals a stricter regulatory stance under the country's Capital Markets Law No. 6362.

The crackdown targets unlicensed crypto services, with internet service providers ordered to block websites, applications, and social media outlets offering unauthorized digital asset operations. PancakeSwap, a major DeFi platform on BNB Smart Chain, now faces scrutiny alongside centralized entities.

This expansion of oversight to decentralized platforms represents a significant shift in Turkey's approach to crypto regulation. Over 60 forex and digital asset platforms have been targeted as authorities ramp up market supervision.