Turkish authorities block PancakeSwap in crackdown on crypto websites

The decentralized exchange was one of 46 websites Turkey's financial regulator said would be blocked for residents.

Turkey’s Capital Markets Board, the country’s financial regulator, announced it had blocked access to websites “providing unauthorized crypto asset services.”

In a Thursday notice, the Capital Markets Board said it had taken legal action against 46 websites, including decentralized exchange PancakeSwap and Cryptoradar, in a crackdown on crypto services offered to residents of Turkey. The regulator cited the country’s Capital Markets Law as its authority to block the websites.

PancakeSwap reported more than $325 billion in trading volume for June, making it one of the most significant decentralized exchanges alongside Uniswap and Curve. It’s unclear how Turkish authorities determined the platform had been offering “unauthorized” services.

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