PancakeSwap Blocked in Turkey for Lack of License
Date: 2025-07-07 Author: Henry Casey Categories: BUSINESS
The Capital Markets Board of Turkey (CMB) has banned the use of the decentralized exchange PancakeSwap and the CryptoRadar platform, which specializes in cryptocurrency rate data. The main reason is that these services do not have the necessary license to operate in the country. This is the first official restriction on decentralized exchanges introduced by the Turkish regulator.
According to local media, since 2024, the CMB has received expanded powers, including the right to block the websites of foreign crypto service providers who do not have a license to operate in Turkey. After the introduction of sanctions, Turkish users can no longer access the PancakeSwap and CryptoRadar websites.
Earlier, at the end of 2024, Turkey tightened anti-money laundering (AML) rules in the crypto sector. Also in June 2025, the country's Ministry of Treasury and Finance announced new measures aimed at preventing the illegal use of cryptocurrencies for financial fraud, including betting and fraud.
These steps demonstrate the growing concern of the Turkish authorities about the control of the crypto market and increasing regulatory pressure on projects without official permission. Thus, the country seeks to increase the transparency of operations and reduce the risks associated with illicit financial flows through cryptocurrencies.
The blocking of PancakeSwap was the first time that restrictions were applied to a decentralized platform in Turkey, which may serve as a precedent for further regulatory action against other services operating without a license. In general, Turkey's cryptocurrency policy is evolving towards stricter controls and compliance with international financial security standards.
