The Turkish Capital Markets Board (SPK) has taken steps to restrict access to several cryptocurrency websites. These actions follow similar initiatives in other countries, such as the USA.
Restrictions on Access to Cryptocurrencies
The SPK, regulating capital markets in Turkey, announced a ban on access to several websites providing cryptocurrency services without a license. Blocked resources also include foreign platforms offering leveraged services. This step was expected after the licensing process began in the country.
Impact on DeFi and Other Platforms
In an interesting turn, the SPK also added PancakeSwap to the list of blocked sites, showing that DeFi platforms may be under strict scrutiny. Following this announcement, CAKE experienced a minor decline in value.
Future of Regulation in Turkey
In light of recent developments, cryptocurrency and DeFi platforms can expect further clarification and possibly new rules from the SPK. Experts and market participants hope for clearer guidelines concerning the regulation of this segment.
The tightening of control over cryptocurrencies and DeFi platforms in Turkey highlights a global trend towards stricter regulation in this area, which may impact future investments and technology development.
