Surbitcoin On Hiatus Amid Venezuela Bitcoin Crackdown

[jamie.redman1]

On February 3 the Venezuelan Bitcoin exchange Surbitcoin informed its customers services would be suspended temporarily. According to the exchange, Surbitcoin’s banking partner, Banesco, closed the firm’s account. The news comes shortly after the recent crackdown on Venezuelan Bitcoin mining activities in the region.

A lot of people were hoping the struggling citizens of Venezuela could use Bitcoin to escape the country’s economic crisis. For a short period, this seemed to be the case as headlines reported underground mining operations, stories of residents using Bitcoin for remittances, and the country’s Localbitcoins’ volumes exploding. Furthermore, Venezuelan interest in the digital currency could also be seen rising on Google search engines as queries grew significantly over the past few months.

Read More Here: https://news.bitcoin.com/surbitcoin-shu ... crackdown/