Venezuelan Government Blocks Binance, Cutting P2P Access for Thousands

Venezuelan Government Blocks Binance, Denying Thousands Access to P2P Market

According to reports, traffic to Binance, one of the biggest cryptocurrency exchanges in the world, is being blocked by CANTV, a state-owned ISP in Venezuela. Thousands of Venezuelans have been left without access to their savings and even P2P markets, which are popular among people who use cryptocurrency as a savings strategy, by the firm, which holds a sizable piece of the country's internet market.

Government Censorship on Bitcoin Industry

Access to Binance users connecting through state-owned ISPs is blocked by the Venezuelan government. The bitcoin industry has been subject to government censorship in Venezuela. The largest cryptocurrency exchange in the world, Binance, is not accessible through state-owned telecom and internet service provider (ISP) CANTV, according to local media. The action, which may possibly impact thousands of users, is a part of a series of restrictions put in place against other services, including Mercado Libre, Signal, Reddit, and X.

However, the action against X is more comprehensive, as it also affects other significant ISPs in the country.

Binance's Response

Binance acknowledged the situation and stated in an email to its clients in Venezuela that "like several websites of companies from different segments in Venezuela, including social networks, Binance pages have been facing access restrictions."