According to PANews, Turkey's Capital Markets Board (CMB) has blocked access to PancakeSwap, citing unauthorized provision of crypto asset services. This marks the first time Turkey has sanctioned a decentralized exchange (DEX). The ban also extends to the crypto comparison platform CryptoRadar. This decision follows the regulatory authority granted to the CMB last year, allowing it to block unlicensed foreign crypto service platforms targeting Turkish users.
Analysts suggest this move sets a precedent for Turkish regulators to target DEXs, potentially affecting similar platforms like Uniswap and Raydium. Previously, Turkey focused on blocking centralized exchanges that had not applied for local licenses.
