Turkey’s Capital Markets Board (SPK) has officially blocked access to PancakeSwap, citing unauthorized crypto asset services targeting Turkish residents.
The ban was issued under Article 99/3 and Article 128/1(a) of the Capital Markets Law (No. 6362). These provisions empower the regulator to restrict platforms operating without a license in the country’s financial markets.
PancakeSwap, the leading decentralized exchange (DEX) on the BNB Smart Chain, was listed alongside several other websites in the SPK’s July enforcement bulletin. The regulator ordered Turkish ISPs to block access to the platform.
Following the news, CAKE price dropped nearly 4%.
Authorities say PancakeSwap enables financial transactions, such as token trading, staking, and yield farming, without complying with Turkish licensing requirements.
These activities fall under capital market operations, which require formal regulatory approval in Turkey.
The SPK also ordered the blocking of associated social media accounts and mobile applications, if any, linked to unauthorized financial services.
This action is part of a wider crackdown on unregistered crypto and forex platforms. Over 60 websites were included in the latest enforcement notice, including both centralized and decentralized platforms.
Turkish regulators have previously warned investors about the risks of engaging with unlicensed service providers.
PancakeSwap remains operational globally. However, access from within Turkey is now restricted via local internet service providers.
The SPK emphasized that these steps are aimed at protecting investor rights and preventing illegal financial activities in digital asset markets.
More regulatory actions against decentralized protocols may follow as Turkish authorities align their stance with global standards on crypto oversight.
免责声明：投资有风险，本文并非投资建议，以上内容不应被视为任何金融产品的购买或出售要约、建议或邀请，作者或其他用户的任何相关讨论、评论或帖子也不应被视为此类内容。本文仅供一般参考，不考虑您的个人投资目标、财务状况或需求。TTM对信息的准确性和完整性不承担任何责任或保证，投资者应自行研究并在投资前寻求专业建议。