Venezuela's State-Owned Telecoms Provider Blocks Binance Access
CryptoNewsTerminal Staff11 Aug, 2024
Venezuela's State-Owned Telecoms Provider Blocks Binance Access
Venezuelan state-owned internet service provider (ISP) CANTV has blocked access to Binance, the world's largest cryptocurrency exchange. The move has also affected other major websites such as Reddit, Signal, and X (Twitter). CANTV is the largest provider of broadband internet access in Venezuela. The company's decision to block Binance is likely due to the Venezuelan government's crackdown on cryptocurrency trading. In an email to Venezuelan customers, Binance said it is "actively engaging with local authorities on the matter." The company did not provide a timeline for when access to Binance would be restored. The Venezuelan government has been cracking down on cryptocurrency trading in recent months. In December, the government banned the use of cryptocurrencies for payments and ordered all cryptocurrency exchanges to close. The government's crackdown on cryptocurrency trading is likely due to concerns about the use of cryptocurrencies for money laundering and other illegal activities.
