Bitcoin (BTC) and cryptocurrency exchange Uphold has officially resumed its services in Venezuela today, May 13th. The financial platform has begun notifying local users about its reopening, ending a nearly four-year closure period.
The decision came as a result of the easing of economic sanctions imposed by the United States on the Caribbean country.
company We are notifying you of this return via email. Bulk sent to database. These communications are explicitly signed when confirming that access is available. “Your Uphold account has been reactivated. You can now log in and access your account through the Uphold app.
To use it again, Customer must undergo data verification. The company states, “When you log in, you may be asked to provide additional information, such as updating your ID or answering a simple survey.”
The platform says, “When prompted, follow the steps provided in the application to complete this process and maintain full access to your account.” This measure requires: Comply with international financial security regulations.
According to a report by CriptoNoticias, Uphold’s withdrawal from the Venezuelan market will be backdated to June 2022. At the time, the company was following orders from the Office of Foreign Assets Control (OFAC). This organization relies on the U.S. Department of the Treasury and is responsible for managing and applying economic sanctions for foreign policy purposes.
At that time, what was considered a South American country was One of the most important markets in Latin America for Uphold (Same for Brazil and Mexico). For the company, the Venezuelan community was considered one of its “most active and most loyal communities.” However, at this time, there is no verified public information about the exact number of Venezuelan users prior to departure.
With this decision, Uphold becomes one of the first international platforms to fully resume its services in Venezuela after recent restrictions.
(Tag Translation) Bitcoin (BTC)
