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Sujit Kumar
Aug 12, 2024
by Sujit Kumar

Venezuela Blocks Binance Amid Widening Internet Crackdown

Venezuela Blocks Binance
Venezuelan users are now reporting restricted access to Binance, the world’s largest cryptocurrency exchange, as the government intensifies its internet crackdown. On August 9, VE sin Filtro, a local anti-censorship group, revealed that the Binance website and mobile app had been affected by a DNS block imposed by the National Commission of Telecom (Conatel).

Part of a Broader Censorship Effort

This move is part of a broader series of internet restrictions in Venezuela, which have also targeted popular social platforms such as Mercado Libre, Signal, Reddit, Facebook, and X (formerly Twitter). These platforms have become crucial for Venezuelans, especially as they seek alternatives to safeguard their assets amidst the country’s ongoing economic crisis marked by hyperinflation.

Impact on Cryptocurrency Adoption

Cryptocurrencies have emerged as a financial lifeline for many in Venezuela, offering a means to preserve value amid severe economic instability. The block on Binance, a key platform for crypto transactions, marks a significant escalation in the government's efforts to control online activity. The restriction follows a recent order by President Nicolás Maduro for Conatel to suspend X for ten days, allegedly due to tensions between Maduro and X's owner, Elon Musk.

As Venezuela continues to tighten its grip on internet access, the blockade of Binance underscores the growing challenges faced by users seeking financial alternatives in a rapidly deteriorating economic environment.

Disclaimer: The views and opinions expressed in this article are for informational purposes only and do not constitute financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
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Venezuela Blocks Binance
Venezuela Blocks Binance Amid Widening Internet Crackdown
Sujit Kumar
Sujit received his Bachelors in Science from the LNMU Darbhanga. He is currently working as a Content Strategist. He has more than three years of professional experience in information systems, security policies, technologies, and Cryptocurrency. He has published 6 books in the area of information security and assurance. He has published more than 50 research articles in leading journals Regarding the Latest and Breaking Crypto News and updates. His research interests include access control, computer forensics, Digital Marketing, Web development, business hacks, player experience, and virtual storytelling.

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