Turkish Authorities Block PancakeSwap In Crackdown On Crypto Websites

The Council for Capital Markets in Turkey, the country’s financial regulatory body, announced that it has blocked access to the website “providing unauthorized services of crypto assets”.

Thursday notifications, Council of Capital Markets said It has taken legal steps against 46 websites, including the decentralized Pancakeswap and Cryptoradar exchange, in the procedure against crypt services offered to the inhabitants of Turkey. The regulator cited the law on the country’s capital markets as its power to block the website.

Pancakeswap Reported more than $ 325 billion In volume for June, which makes it one of the most important decentralized exchanges along with Uniswap and Curve. It is not clear how the Turkish authorities have determined that the platform offers “unauthorized” services.

Cointlelegraph addressed Pancakeswap spokesman for commentary, but at the time of publication he did not receive an answer.

Regulatory bodies and authorities in some countries have he acted to block websites Offering crypto services, they often claim that companies have not been registered or facilitated by illegal transactions. The governments of Kazakhstan, Venezuela, the Philippines, Russia and others have previously intervened on similar websites.

Related: Turkey will fill the crypt rules with a source, checking the purposes of transfers

Strengthening crypt rules in Turkey

Turkish Council for Capital Markets has a full control check Despite Krypto’s service providers, they have been offering residents of the service since March, when it creates standards and requirements. Since February, the users of crypto have been in Turkey Required to provide identification data When making transactions about $ 425 or more.