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Turkish financial regulatory bodies blocked access to decentralized exchange Pancakeswap and 45 other websites related to the crypto in a wider intervention against unauthorized services of digital assets.
In July 3, the Capital Markets (SPK) Council announced legal action against the website and lacks the provisions of the Turkish Act on Capital Markets.
The regulator stated that targeted platforms provide Krypto services without the required permit.
Pancakeswap, which showed more than $ 325 billion in the volume of June trading, is one of the largest dexs in the world Support. It remains unclear how the Turkish authorities have determined that the platform directly offers services in the country.
Other blocked sites included Cryptoradar and various investment and trading platforms that reflect supervision of coupling supervision of the crypto sector.
As part of the regulatory changes made since March, the SPK has full power over the providers of the Krypto Asset Services that offer products to Turkish residents, promotion of standards and compliance requirements.
The country has taken a strict attitude towards Krypto payments since they banned their use in shopping in 2021. However, residents can still buy, hold and trade digital assets.
At the beginning of this year, Turkey ordered the crypt users to provide identification information for transactions over approximately $ 425.
The worldwide country as Kazakhstan, Venezuela, Russia and the Philippines also blocked websites related to cryptomics that quoted unauthorized operations and illicit transaction risks.
The Turkish regulatory approach is part of its wider strategy of formalization and control of markets with digital asset with increasing adoption.
