Metamask, one of the most popular and widely used crypto and NFT wallets has restricted its features to users in Venezuela.
According to several sources on social media, this was due to ‘legal compliance’ issues related to Infura, the server that the wallet uses to send and receive data from the blockchain.
One of the first to report this situation was Venezuelan crypto enthusiast José Rafael Peña. He posted a screenshot on Twitter, showing Metamask’s explanation on why they can’t serve some areas. His tweet implied that Venezuela was among the banned jurisdiction, with ‘compliance with laws’ cited as the reason.
The Metamask page does not reveal much, and doesn’t even point out to all the countries it cannot serve.
“Metamask and Infura are not available in certain jurisdictions due to compliance with laws,” the brief statement reads.
Venezuela is one of the countries with a high crypto adoption, owing to the dire economic situation and the low value of its currency following years of hyperinflation.
However, by virtue of being on the US economic sanctions list, many companies that do business in the US are effectively banned from doing business in Venezuela.
As cryptocurrencies receive more regulatory scrutiny in the US, Venezuela and other counties in a similar situation may find it increasingly difficult to conduct any activities on the blockchain, unless they develop their own infrastructure that is not beholden to US-based companies.
