Binance Removes Banco de Venezuela as P2P Option
Users of Binance’s peer-to-peer (P2P) platform have noticed that they can no longer find the Banco de Venezuela payment option. The bank, which is widely used in the country, has been removed without any official explanation from Binance. While Binance claims to adhere to regulatory standards, they have not provided specific reasons for the removal.
Key Points:
- Banco de Venezuela is no longer available as a payment method on Binance P2P.
- The removal is believed to be related to compliance with local and international regulatory standards.
- Binance has not alerted users about the change.
- Binance Angels recommend avoiding any payments with Banco de Venezuela on the platform.
- Binance recently suspended P2P transactions for five sanctioned Russian banks.
Avoiding Banco de Venezuela on Binance P2P
Although Binance has not officially informed users about the removal of Banco de Venezuela as a payment option, the Binance Angels advise against using it. The platform still allows the use of other private banks and mobile payment services. However, users are urged to avoid Banco de Venezuela as Binance P2P cannot mediate any issues that may arise during payment.
Hot Take:
Binance’s decision to remove Banco de Venezuela as a P2P payment option raises questions about the impact of regulatory compliance on cryptocurrency exchanges. This move may be linked to the US sanctions on the Venezuelan government. It also highlights the need for users to stay informed about changes in payment options and to consider alternative methods to avoid potential disruptions.
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