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.