Turkey’s DeFi Crackdown: After PancakeSwap Ban, Regulators Eye Other Platforms

Turkish regulators just dropped the hammer on PancakeSwap—and now the entire DeFi ecosystem is sweating. Here's what's next in Ankara's crypto crosshairs.

The Domino Effect Begins

Sources confirm Turkey's financial watchdog is auditing multiple decentralized protocols. No names yet, but insiders whisper about 'high-volume targets.'

Regulators Play Whack-a-Mole

Anonymous officials claim this isn't about innovation—it's about control. 'These platforms bypass traditional oversight,' one growled. Translation: they can't print lira at will.

DeFi's Resilience Test

While VPN downloads spike in Istanbul, developers are already coding workarounds. Because nothing motivates progress like bureaucrats with clipboards.

Final thought: When banks fear competition, they call it 'consumer protection.' How...convenient.

Turkey bans PancakeSwap for promotions to its citizens

“We have already started to impose access blocks on such websites,” Güngör added. The chief regulator likely referenced the recent ban on PancakeSwap, along with 46 other websites, which happened on July 4.

The regulators ordered internet service providers to block PancakeSwap’s domain in the country, along with a ban on associated mobile apps and associated social media accounts. Still, regulators did not outline what channels PancakeSwap used to specifically target Turkish users.

PancakeSwap is a decentralized protocol without any registered branches or legal entities in Turkey. For this reason, the exchange would have trouble applying for the required crypto service provider licences in the country.