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Turkey Tightens Crypto Regulations with First DEX Ban
The Turkish regulator has restricted access to decentralized exchange PancakeSwap and the analytical platform CryptoRadar, citing the unlicensed provision of crypto asset services. This marks the first regulatory enforcement against a DEX within the country. The crackdown appears to be a response to the 2023 scam involving the Thodex exchange. In early 2025, authorities introduced new AML regulations requiring verification of all transactions over $425, along with mandates for platforms to gather detailed information about the origin and purpose of each transfer. Users are also mandated to provide descriptions of at least 20 characters for each transaction, with delays of 48 to 72 hours imposed for non-compliance.
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AI Analysis
The recent actions by Turkish authorities indicate a significant shift towards more stringent regulation of the cryptocurrency space. The blocking of PancakeSwap and CryptoRadar suggests an increasing...
AI Recommendation
Investors and crypto service providers should pay close attention to Turkey's evolving regulatory landscape. Those operating within or entering the Turkish market need to ensure compliance with new re...
Disclaimer
The AI analysis and recommendations provided are for informational purposes only. Any investment decisions should be made at your own risk. Past performance is not indicative of future results. Always conduct your own research and consider consulting with a financial advisor before making any investment decisions.