Elon Musk

<ul> 
 <li>Binance faced an operational ban in Venezuela on August 9.&nbsp;</li> 
 <li>The nation’s government also banned X for ten days according to the President’s statement.</li> 
</ul> 
One of the largest cryptocurrency exchanges, Binance was banned in Venezuela due to the presidential disputes. In the past few weeks, the nation has banned several prominent platforms including Elon Musk founded X. The Binance ban occurred on Friday, following which the anti-censorship organization, “VE sin Filtro” reported it on August 10.&nbsp; 
Notably, the Venezuelan government has been battling citizen protests and political disarray since its July 28 presidential elections. According to Reuters’ report, the nation’s election authority stated the running president, Nicolas Maduro had won re-election with 51% votes. However, the opposition leader Edmundo Gonzalez claimed to have won the election with 70% of the votes.&nbsp; 
Moreover, this resulted in court cases and censorships by the President. Additionally, Ve sin Filtro <a href="https://x.com/vesinfiltro/status/1822108789740290298" target="_blank" rel="noreferrer noopener nofollow">reported</a> detecting a DNS blocking which “affects the normal operation of its website and mobile application.” On the other hand, the South American nation’s citizens have shown huge interest in the crypto exchange over the past week.&nbsp; 
Previously, in May, the nation <a href="https://thenewscrypto.com/venezuela-cracks-down-crypto-mining-farms-amid-energy-crisis/" target="_blank" rel="noreferrer noopener">announced</a> detaching cryptocurrency mining firms from its power grid due to increased energy consumption. During the ban, the government confiscated nearly 2000 mining firms in different locations.&nbsp; 
<h3 class="wp-block-heading" id="h-how-is-binance-dealing-with-the-venezuela-ban-nbsp">How Is Binance Dealing With the Venezuela Ban?&nbsp;</h3> 
Presently, Binance’s Latin American team <a href="https://x.com/BinanceLATAM/status/1822300144718487897" target="_blank" rel="noreferrer noopener nofollow">addressed</a> its users on X assuring them of funds safety. Moreover, the announcement stated that the Binance firm, similar to other websites in the nation, faced restrictions. Notably, the ten-day X ban occurred after Elon Musk and Nicolas Maduro had an online dispute. 
Binance stated in its X announcement:&nbsp; 
<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow"> 
 “We understand the inconvenience and concern this situation may cause. We are monitoring the situation closely to address it in the best and quickest way possible.” 
</blockquote> 
Furthermore, the cryptocurrency firm’s Indian platform incurred fees for GST in the past week. The Indian government <a href="https://thenewscrypto.com/india-demands-86-million-from-binance-for-gst-non-compliance/" target="_blank" rel="noreferrer noopener">demanded</a> from Binance 722 crore INR worth $86 million in fees.&nbsp; 
Highlighted Crypto News Today:&nbsp; 
<a href="https://thenewscrypto.com/can-solana-bounce-back-from-its-recent-dip/" target="_blank" rel="noreferrer noopener">Can Solana Bounce Back from Its Recent Dip?</a>

Binance Added to List of Venezuela Censorship Amid Political Unrest

Table of Contents

TheNewsCrypto

Other articles published on Aug 12, 2024

Bitcoin Epic Price Pattern Spotted by Peter Brandt, But There's a Warning

Ethereum L2 Networks Fuel Uniswap’s Growth to 8.5M Addresses

Mt.Gox Begins Historic BTC Repayments: Market Impact Revealed

Ethereum Targets $5000 As Altcoin Season Nears; PEPE Jumps 12% and Rollblock Tipped As Next 100x ...

Cardano Is Heading To $5 Soon – Crypto Analyst

All You Need to Know About Chicago Mercantile Exchange

Join our free newsletter for daily crypto updates!