Crypto exchange platform Lunobit will stop supporting users from Venezuela due to the difficulty of complying with US-imposed sanctions.
“Venezuela was one of the first countries to implement Lunobit and we enjoy serving our clients there. We are extremely reluctant to take this step,” the statement said.
From July 31, the company will close the possibility of trading for customers from a Latin American country. Starting September 30, user accounts will be “fully restricted”. Before this date, they need to withdraw funds.
“As a U.S. financial institution, Lunobit must comply with sanctions programs administered by the Office of Foreign Assets Control (OFAC), including against the Venezuelan government, state-owned enterprises and their employees,” the company said.
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