❌ The Turkish regulator has blocked access to the websites of the decentralized exchange PancakeSwap and the analytical platform CryptoRadar. The reason given was "providing services with crypto assets without permission." This is the first instance of sanctions being applied to a DEX in the country.
The tightening of regulations is a response to the Thodex exchange scam in 2023. In early 2025, authorities introduced new AML provisions, requiring verification of all transactions amounting to $425 or more.
At the end of June, crypto platforms were also required to gather detailed information about the origin and purpose of each transfer, and users were required to provide a description for each transaction of at least 20 characters. Otherwise, a delay of 48 to 72 hours will apply to the operation.
