Turkey’s Capital Markets Board, the country’s financial regulator, has announced that it has blocked access to websites that “provides unauthorized crypto asset services.”
In a notice on Thursday, the board of capital markets Says This has taken legal action against 46 websites, including decentralized pancakeswap and Cryptoradar, in a cracking of crypto services offered to Turkey residents. The regulator cited the country’s capital law as its authority to block websites.
Pancakeswap reported more than $ 325 billion With the amount of trade for June, it makes it one of the most significant decentralized exchanges next to the uniswap and curve. It is unclear how the Turkish authorities determined that the platform was offering “unauthorized” services.
The cointelegraph handed over a Pancakeswap spokesperson to comment but did not receive a response at the time of publication.
Regulators and authorities in some countries have act to block websites Offer crypto services, which often states that companies do not register or facilitate illicit transactions. The governments of Kazakhstan, Venezuela, Philippines, Russia and others have previously been cracked on similar websites.
Related: Turkey Crypto policies with resources, goal checks
Strengthening crypto policies in Turkey
Board of Turkey Capital Markets had full regulation control Over the Crypto Asset Service Provider who has been offering services to residents since March, it created a framework that establishes standards and requirements. Since February, Crypto users in Turkey have been necessary to provide recognition of information When implementing transactions of approximately $ 425 or more.
Allows Turkish residents to buy, hold and trade cryptocurrencies, but the country is banned With digital assets for payments In 2021. A local law firm was set Challenge the ban At a hearing.
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