Turkey Restricts Access to Decentralized Crypto Exchanges
Turkey’s financial watchdog has banned decentralized exchanges, including PancakeSwap. The Capital Markets Board (CMB) made this move on July 4, according to local media. The ban affects Turkish users, blocking their access to PancakeSwap and the crypto comparison site CryptoRadar.
The CMB cited “unauthorized crypto asset services” as the reason for the ban. These platforms lacked the necessary permits to operate in the country. the new rules came into effect in 2024, giving the CMB authority to restrict foreign crypto services without licenses.
Earlier this year, the CMB updated its crypto regulations. The changes required stricter openness and reporting. Monthly account statements and transaction details are now mandatory. This decision targets unauthorized crypto platforms.
However, regulated exchanges can still function. In March 2
