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Turkey Cracks Down on Unauthorized Crypto Platforms

  • Turkey's Capital Markets Board has cracked down on unauthorized crypto platforms operating without proper authorization.
  • The blocked platforms, including popular one like PancakeSwap, were found to violate the country's Capital Markets Law, with no specific details provided on the breach.
  • Turkey has been enforcing stricter oversight on crypto trading, requiring compliance with new regulations and imposing identity disclosure for crypto transactions over a certain amount to prevent money laundering.
  • Despite allowing trading and holding of digital assets, Turkey still prohibits using cryptocurrency for payments, leading to legal challenges and regulatory actions seen in other countries as well.

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