Blockchain, Cryptocurrency, News & Updates

U.S. Crypto-Exchange Platform suddenly barred by Venezuelan Government

News from Venezuela shows that the government has barred the United States-based central crypto exchange platform Coinbase.

Various Twitter users made the allegations. However, the state authorities are yet to make a statement on the matter.

Venezuela-based internet tech group Venezuela Inteligente shared screenshots that seemed to show that Coinbase access was blocked, as well as the MercaDolar platform, another USA-based firm. The latter offers remittance and foreign exchange services for Venezuelans.

The tech group said that “most mainstream internet service providers” in the nation were blocking Coinbase and MercaDolar, and added that the “exact motivation” for the move was so far unclear.

One user alleged that he could not access Coinbase. The American firm’s services appeared to be inaccessible from Venezuela. The Twitter user added that he was able to bypass the block using a VPN, however.

Venezuela Inteligente also pointed out that the Nicolás Maduro government last month issued a block on the AirTM platform, a peer-to-peer money transfer app run by a Mexican fintech firm.

The government had beforehand chosen the platform for use in a healthcare donations program.

This week, a reliable news source informed that Twitter seems to have taken down the Venezuelan cryptoasset regulator, Sunacrip.

Crypto adoption is sky-high in the Latin American nation. Yesterday, Chainalysis published data showing that only Russia and Ukraine’s citizens were more active in the crypto market than Venezuela, with sky-high peer-to-peer exchange volumes.

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