In a strict repression of regulations, Turkey has blocked access to 46 cryptocurrency platforms. Thousands of Turkish crypto users have suddenly found themselves unable to access the crypto trading platform.
Turkish financial authorities have made that clear – they target both centralized and decentralized exchanges.
This crackdown is alongside the introduction of new rules for crypto exchanges operating in Türkiye. This includes required user verification or KYC for all platforms. There is also withdrawal delays to enhance monitoring of suspicious transactions.
There is also an increase in cooperation between the exchange and the authorities to go ahead and report illegal activities.
Turkey blocks 46 crypto platforms in regulatory crackdowns
The Turkish Capital Markets Board (CMB) blocked access to 46 fraudulent cryptographic platforms in July alone.
– Global (@coinnessgl) appointment July 7, 2025
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Moves serious repulsion in the face – “In countries with high inflation and low trust in lira, cryptography has become a lifeline.”
However, the move was filled with serious repulsion. Shyft Network states, “Turkey has just passed the cleaning cryptography. But this is not just about compliance. It’s not about control. Turkey must register, follow AML rules and comply with FATF travel rules.”
“Down the FATF grey list, but there is a deeper play below it. “We will extend the state’s surveillance of the rapidly growing, high-recruiting crypto market,” the embarrassment added. Now that lifeline is regulated – firmly. ”
But why did Turkey take this step? The Turkish government cited several reasons for this aggressive regulatory action.
Fighting money laundering and terrorist financing, consumer proposals, maintaining financial stability, and more. In 2021, the state did something similar, banning the use of crypto for payments.
Turkish regulators have ordered internet service providers to block access to 46 crypto-related websites. The affected platforms range from general central exchanges to major Defi protocols such as Pancakeswap.
Breading Break: Turkey includes 46 crypto platforms @pancakeswap
The Turkish Capital Markets Committee issued a massive ban on major Defi platforms due to “fraudulent service provision” under the State Securities Act.
Important Impact:
•Pancakeswap + 45 other platforms are blocked
•…– JP (@jpcrypto618) July 5, 2025
read more: Türkiye’s banned pancay swap: a set of codes?
Turkey bans pancake wap
The Turkish Capital Markets Committee (CMB) has closed pancake waps (cakes) for citizens. We also blocked Cryptoradar, a crypto comparison site. why? They said the platform didn’t have the right paper to work there. All this gives CMB the power to block unlicensed crypto platforms, thanks to the new laws of 2024.
The move is part of Türkiye’s bigger plan to crack down on the code and keep things under control. Essentially, they want to make sure the crypto platform is legal and are said to protect people from shade. So, if other exchanges don’t line up their licenses, expect more of these bans.
After the news broke, the cake was a 4.00% hit in just one day. It has now dropped by 10% over the past month, indicating that the market is not satisfied with these rules. Pancakeswap’s trading volume also fell sharply, falling 20%, to $45.54 million.
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Key takeout
After Turkey blocked 46 cryptographic platforms, thousands of Turkish crypto users suddenly found themselves unable to access crypto trading platforms.
The relationship between Türkiye and cryptocurrency was turbulent. After the 2021 payment ban, regulators steadily increased sector scrutiny.
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