Peer-to-peer Bitcoin marketplace, Paxful has announced that it will no longer offer its services in Venezuela.
The announcement came via a video tweeted by Paxful’s Latin American account yesterday.
The P2P marketplace said it was ceasing operations because ‘increasingly strict regulations’ hampered its ability to provide services to Venezuelans.
And according to the announcement, the decision was based on US sanctions imposed on Venezuela, which has made it very difficult to do business there.
Paxful Ceases Operations in Venezuela
Paxful users in Venezuela have 30 days to withdraw their funds free of charge, but Venezuelans living abroad will still be able to continue buying and selling Bitcoin on the Paxful marketplace.
‘Our mission is to help the four billion unbanked and underbanked around the world and we’re truly heartbroken that we aren’t able to extend this calling to the people of Venezuela for now. Read More at Bitcoin Maximalist