Turkey blocks 46 websites including PancakeSwap for providing "unauthorized crypto asset services" to residents

According to ChainCatcher, Financefeeds reports that the Turkish Capital Markets Board (CMB) has taken legal action to block 46 cryptocurrency-related websites, including the major decentralized exchange PancakeSwap, on the grounds that these platforms provide "unauthorized crypto asset services" to Turkish residents.

Since March of this year, the CMB has comprehensively regulated crypto asset service providers operating in Turkey, establishing a new licensing and compliance framework. In February, Turkey implemented new regulations requiring users to provide identification information for crypto transactions exceeding 15,000 Turkish lira (approximately $425). Although buying and holding cryptocurrencies remains legal in Turkey, the country banned the use of digital assets for payments in 2021.