Early today in the morning, users of Uphold in Venezuela were informed through an email communication that the company had decided to withdraw from Venezuela, due -according to them- to the growing complexity of complying with US sanctions.
In the statement where they point to Venezuela as one of the first countries to adopt Uphold, they have expressed their displeasure regarding the decision, as well as that they hope to return as soon as the changes in the United States’ policy regarding Venezuela allow it. .
In this sense, they communicated that the main priority for now was to help their Venezuelan clients to withdraw their money quickly until the deadline of July 31 that this option remains enabled.
“The ability to trade will stop on July 31st and all accounts will be completely restricted from September 30th. After this date, the asset withdrawal process will be slower as it will have to go through our customer service team”they communicated
Likewise, They also pointed out that starting today, they would not accept deposits from Venezuelan residents and would close all accounts with a zero balance.
Here is a screenshot of the statement:
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