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Binance excludes Banco de Venezuela from P2P payments

Published 08/29/2023, 06:28 AM
Updated 08/29/2023, 10:00 PM

The world’s largest crypto exchange, Binance, has removed Banco de Venezuela as a payment method on its peer-to-peer (P2P) trading service. This follows similar moves with sanctioned Russian banks last week and is likely part of efforts to fall in line with international financial sanctions.

According to Venezuelan users, Banco de Venezuela has vanished from the P2P payments options this week, following a series of such removals of Russian banks by Binance. The obvious reason behind this step is the Aug. 24 Wall Street Journal report about the exchange’s participation in circumventing international financial sanctions.

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