Binance, the world’s largest crypto exchange, has removed Banco de Venezuela from its peer-to-peer (P2P) trading service. This follows similar moves with sanctioned Russian banks last week, and is likely part of efforts to comply with international financial sanctions. Banco de Venezuela is one of the largest financial institutions in the country, and was sold to the state by a private holding company in 2009. The sanctions were imposed on Venezuelan government officials and affiliated institutions by the United States Treasury Department in 2018 and 2019.

Other private Venezuelan banks such as Banesco, Banplus, BBVA Provincial, and others, remain on the list of Binance’s P2P platform. The recent surge in awareness regarding the inclusion of sanctioned banks on crypto P2P payment options came to light last week when the Wall Street Journal revealed that Tinkoff Bank and Sberbank were featured as transfer methods on Binance. The same day, Tinkoff and Sberbank were no longer visible on the Binance P2P platform, and were eventually entirely removed from the list. On Aug. 28, two other major crypto exchanges, OKX and ByBit, followed Binance by excluding sanctioned Russian banks from their payment options.

This News Article was automatically generated by Bob the Bot(AI)

Information	Details
Geography	South America
Countries	🇺🇸
Sentiment	neutral
Relevance Score	8
People
Companies	Banco de Venezuela, Banplus, Grupo Santander, Banesco, OKX, BBVA Provincial, Tinkoff Bank, United States Treasury Department, Binance, ByBit., Sberbank
Currencies	ethereum, sberbank, venezuelan bolivar, tinkoff bank, bitcoin
Securities