Uphold, a New York-based cryptocurrency exchange, has announced it is closing its operations in Venezuelan markets. The company, which has already had problems with users in the country in the past — shutting down accounts and requiring KYC controls that some users deemed excessive — declares that the exit from Venezuela has to do with the “complexity of complying with U.S. sanctions.”
Uphold Abandons Venezuelan Markets
Uphold, a New York-headquartered cryptocurrency exchange and stock trading platform, has announced that it will no longer serve customers registered in Venezuela. The company, which serves more than 184 countries according to its own data, argues that the current situation between Venezuela and the U.S is the cause of this decision.
In an email sent to Venezuelan customers of the exchange, Uphold declared:
Were very sorry to tell you that Uphold has decided to withdraw from Venezuela owing to the increasing complexity of complying with U.S. sanctions. Venezuela was...
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