The bitcoin (BTC) and cryptocurrency exchange Uphold began today, May 13, the formal reactivation of its services in Venezuela. The financial platform began to notify its local users about the reopening of its operations, ending a period of absence that lasted almost four years.
This decision arises as a consequence of the relaxation of the economic sanctions imposed by the United States against the Caribbean country.
The company is informing of this return through emails sent en masse to your database. In these communications, the signature is explicit when confirming that access is now available: «Your Uphold account has been reactivated. You can now log in through the Uphold app to access your account.
To use it again, customers must go through a data verification. The company clarifies that it is possible that “you may be asked to provide additional information when logging in, such as updating your ID or completing a short questionnaire.”
The platform indicates: “if prompted, follow the steps shown in the application to complete this process and maintain full access to your account.” This measure seeks to comply with international financial security regulations.
Uphold’s departure from the Venezuelan market dates back to June 2022, as reported by CriptoNoticias. At that time, the company followed orders from the Office of Foreign Assets Control (OFAC). This entity, dependent on the United States Department of the Treasury, is responsible for administering and applying economic sanctions for foreign policy purposes.