Turkey’s PancakeSwap Block; Warning Shot to All Unlicensed Crypto Platforms

• Turkey’s financial regulator, the CMB, has blocked access to 46 crypto platforms, including PancakeSwap
• This is the first time Turkish authorities have formally blocked a major decentralized exchange (DEX)
• The action was enabled by new laws passed in 2025 that give the CMB expanded power over the sector

Turkey’s financial regulator has blocked access to 46 unauthorized cryptocurrency service providers, including the major decentralized exchange (DEX) PancakeSwap. The enforcement action, announced by the Capital Markets Board (CMB), comes as Turkey intensifies control of its digital asset sector following new regulatory powers introduced earlier this year.

The Capital Markets Board (CMB) confirmed on Thursday it had initiated legal proceedings against the group of platforms for operating in violation of Turkey’s Capital Markets Law. This is the first time Turkish authorities have formally blocked a decentralized finance (DeFi) platform of PancakeSwap’s size.

A Major DEX Blocked Under New Powers

Blocking PancakeSwap is a major step for regulators. The platform is one of the largest DEXs in the world, processing over $325 billion in trading volume in…

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