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PancakeSwap and CryptoRadar have been blocked in Turkey.
The Turkish Capital Markets Board (CMB) has blocked access to the decentralized exchange (DEX) PancakeSwap and the price comparison platform CryptoRadar. This was reported by local media.
The reason cited was "providing services with crypto assets without permission." This is the first case of sanctions applied to DEX in the country.
The CMB has been given the authority to block websites of foreign digital asset service providers in 2024. The regulator applies this measure to companies that operate without a license and target Turkish users. Previously, the agency has already blocked centralized exchanges.
The decision on PancakeSwap has set a precedent. Market participants fear that platforms like Uniswap and Raydium will be next to face a ban.
The authorities warned investors about the risks of using unlicensed exchanges. They recommended working only with CMB-approved platforms to protect capital and personal data.
Regulation in Turkey
In May 2024, the country's authorities announced a tightening of legislation in the field of digital assets. One of the key aspects of the decision was the protection of investors in the wake of the collapse of the Thodex platform.
Starting from February 25, 2025, users from Turkey conducting cryptocurrency transactions over 15,000 TRY ( at the time of writing $376,5) are required to provide identification data to service providers.
Recall that in June, the Ministry of Finance of the country announced the introduction of limits on stablecoin transfers to prevent the rapid outflow of illegal funds.