Paxful, citing regulations and its own ‘risk tolerance,’ exits Venezuela’s P2P Bitcoin market

posted 4 months ago
Paxful is pulling out of Venezuela’s peer-to-peer Bitcoin scene. A company spokeswoman confirmed the exit "Concerns regarding the regulatory landscape around Venezuela and Paxful's own risk tolerance" prompted the exit, she said.

Existing users will have 30 days to withdraw funds. Venezuela's crypto traders favor P2P crypto exchanges over government-approved alternatives. Venezuela reportedly has rampant inflation, a largely unbanked population, and high mobile phone usage which make it an excellent landscape for adoption in the near future.
Tags: bitcoin, blockchain, news