Binance tightens risk controls on cryptocurrency purchases using Venezuelan bank cards; P2P transactions remain unaffected.

PANews reported on February 24th that, according to CriptoNoticias , Binance has recently implemented stricter risk controls on Venezuelan users' purchases of cryptocurrencies using locally issued and Panamanian virtual credit and debit cards. This has resulted in higher chargeback rates, the complete removal of bank card payment options for some users, and an increase in issues such as abnormal OTP (Open Transaction Processing) reception and additional virtual card limits. Binance stated that customer service requests have increased significantly and it is monitoring restrictions imposed by payment processors and banks. Currently, the buying and selling of cryptocurrencies such as Bitcoin and USDT through Binance P2P remains normal and is still the main channel for Venezuelan users to obtain liquidity.