In a severe regulatory crackdown, Turkey has blocked access to 46 cryptocurrency platforms. Thousands of Turkish crypto users found themselves suddenly unable to access crypto trading platforms. The Turkish financial authorities made it clear – they are targeting both centralized and decentralized exchanges. This crackdown comes alongside the introduction of new rules for crypto exchanges operating in Turkey. This includes mandatory user verification or KYC for all platforms. There will also be withdrawal delays to allow for enhanced monitoring of suspicious transactions.  Going ahead, there will also be increased cooperation between exchanges and authorities for reporting illicit activities.  Turkey blocks 46 crypto platforms in sweeping regulatory crackdown Turkey’s Capital Markets Board (CMB) blocked access to 46 unauthorized crypto platforms in July alone, including leading decentralized exchange (DEX) PancakeSwap, as part of a sweeping enforcement campaign to… — CoinNess Global (@CoinnessGL) July 7, 2025 DISCOVER: Next 1000X Crypto: 10+ Crypto Tokens That Can Hit 1000x in 2025 Move Faces Severe Backlash – “In a country where inflation is high and trust in the lira is low, crypto became a lifeline” However, the move was met with a severe backlash. Shyft network took to X to say, “Turkey just passed a sweeping crypto law. But this isn’t just about compliance — it’s about control. Turkey now requires all crypto service providers to register, follow AML rules, and comply with the FATF Travel Rule.” “Get off the FATF grey list. But beneath that is a deeper play: extend state oversight over a fast-growing, high-adoption crypto market,” added Shyft. “In a country where inflation is high and trust in the lira is low, crypto became a lifeline. Now that lifeline is being regulated — tightly.” But why did Turkey take this step? The Turkish government cited several reasons for this aggressive regulatory action. Including combating money laundering and terrorism financing, proctecting consumers and maintaining financial stability. Back in 2021 the country did something similar, banning the use of crypto for payments. The Turkish regulators ordered internet service providers to block access to 46 crypto-related websites. The affected platforms range from popular centralized exchanges to leading DeFi protocols, like PancakeSwap.  BREAKING: Turkey Blocks 46 Crypto Platforms Including @PancakeSwap Turkey's Capital Markets Board just issued a sweeping ban on major DeFi platforms for "unauthorized service provision" under national securities law. Key Impact:
• PancakeSwap + 45 other platforms blocked
•… — Sir JP (@JPCrypto618) July 5, 2025 Read More: Turkey Bans PancakeSwap: A Setback for Crypto?  Turkey Bans PancakeSwap Turkey’s Capital Markets Board (CMB) just shut down PancakeSwap (CAKE) for its citizens. They also blocked CryptoRadar, a crypto comparison site. Why? They said the platforms didn’t have the right papers to operate there. This is all thanks to new laws from 2024, giving the CMB the power to block crypto platforms that don’t have licenses. This move is part of Turkey’s bigger plan to crack down on crypto and keep things in check. Basically, they want to make sure crypto platforms are legit and allegedly protect people from shady stuff. So, expect more of these bans if other exchanges don’t get their licenses in line. After the news broke, CAKE took a 4.00% hit in just one day. Now it’s down 10% over the past month, showing the market’s not happy about these rules. PancakeSwap’s trading volume dropped hard too, down 20%, now sitting at $45.54 million. DISCOVER: Best Meme Coin ICOs to Invest in 2025 Key Takeaways

Thousands of Turkish crypto users found themselves suddenly unable to access crypto trading platforms, after Turkey blocked 46 crypto platforms. 

Turkey’s relationship with cryptocurrencies has been turbulent. After the 2021 payments ban, regulators have steadily increased their scrutiny of the sector.  The post Turkey Blocks 46 Crypto Platforms In Big Crackdown: Faces Severe backlash appeared first on 99Bitcoins.

The Ministry of Treasury and Finance of Turkey, led by Mehmet Şimşek, has announced a series of stringent new measures aimed at curbing money laundering and enhancing the oversight of digital asset transactions. According to the 25th June 2025 announcement, “The Ministry is preparing to take additional steps and will request strict control and supervision of the transactions carried out by Crypto Asset Service Providers (CSAs).” Notably, the latest regulatory push comes amid a surge in crypto adoption driven by the Turkish lira’s sharp depreciation – nearly 20% of its value over the last year – and growing over illicit financial activity in the digital asset space.  Turkey’s latest crypto "reforms" demand 20-character transfer memos, impose 48–72 hour withdrawal delays, and restrict stablecoin usage. Innovation doesn’t thrive under surveillance-heavy micromanagement. Oversight is necessary, but choking liquidity is not regulation — it's… — AhmetAytac (@ahmetaytacvtx) June 25, 2025 According to the rules, all crypto transactions in Turkey must now include a minimum 20-character transfer note. Platforms that fail to comply with new rules will fact a mandatory 72-hour delay on all user withdrawals.  Furthermore, the new daily and monthly limits have been imposed on stablecoin transactions, with users restricted to $3000 per day and $50,000 per month. Explore: 9+ Best High-Risk, High–Reward Crypto to Buy in June 2025 Capital Markets Board in Turkey Gains Full Control Over Digital Assets Turkey has given its Capital Markets Board (CMB) complete control over the crypto asset service providers (CASP) in an attempt to control its fast-growing crypto market. On 13 March 2025, the nation saw the CMB publish two regulatory documents concerning ‘Establishment and Operating Principles of Crypto Asset Service Providers’ and ‘Working Procedures and Principles of Crypto Asset Service Providers and Capital Adequacy. ’ These licensing and operational guidelines for CASPs, which include crypto exchanges, custodians and wallet service providers, enable them to keep running operations in the country. The recently created structure requires rigorous adherence to both national and international compliance criteria. Explore: The 12+ Hottest Crypto Presales to Buy Right Now Key Takeaways

Turkey’s latest regulatory push comes amid a surge in crypto adoption driven by the Turkish lira’s sharp depreciation and growing over illicit financial activity in the digital asset space. 

For crypto exchanges and service providers in Turkey, compliance costs are likely to rise. This is because platforms must implement new systems to enforce transfer note requirements and monitor transaction limits.
The post Turkey Tightens Crypto Regulations As Turkish Lira Continues To Depreciate appeared first on 99Bitcoins.

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