Paxful Limits Services for Venezuela Over US Sanctions
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Popular p2p bitcoin marketplace Paxful has restricted access to its services for clients from Venezuela, Decrypt has learned.

Paxful Inc was co-founded in July 2015 by Ray Youssef and Artur Schaback. The services' mission, according to its LinkedIn page, is "social justice through financial freedom worldwide."

Paxful Limits Services for Venezuela Over US Sanctions

Meanwhile, the published screenshot of the email sent by Paxful to one of its Venezuelan customers shows that the company will "deactivate" any trades related to Venezuela's central bank — Bank of Venezuela.

The company states the limitations are related to sanctions imposed by the United States on Venezuela.

In March, Paxful entered into a partnership with a blockchain analysis company Chainalysis.

US Offers $5M Reward for Venezuelan Crypto Head

The main goal of the partnership, according to an official press release, is to integrate Chainalysis' Know-your-Customer (KYT) technology to monitor the platform's cryptocurrency transactions in real-time.

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