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Guillermo Goncalvez, CEO of El Dorado, denied that they would like to «promote speculation about the dollar.»
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Venezuelan authorities have arrested people for «artificially inflate» the dollar.
Guillermo Goncalvez, co -founder and CEO of Exchange P2P El Dorado, announced the suspension of operations in Venezuela through a video broadcast on Saturday.
«El Dorado will stop operating in Venezuela immediately,» he said, while expressed its regret for any negative impact generated by the platform.
«First of all, I am widely regretted, since in any way our shares have been aimed at promoting speculation about the parallel dollar in Venezuela,» said Goncalvez, who He also apologized and assumed responsibility for any damage caused.
The businessman stressed that The only official rate of the dollar in the country is established by the Central Bank of Venezuela.
Government scrutiny
El Dorado’s decision is produced in a context of growing control by Venezuelan authorities on the exchange market.
Last week, they arrested 20 people who managed Instagram accounts dedicated to publishing the value of the parallel dollar, which, until May 22, quoted 133 bolivars per dollar, while the official BCV rate was located in 94 bolivars, making a difference of 41%.
The Venezuelan Public Ministry charged the detainees with the crimes of terrorism, legitimation of capital, undue collection, deceptive offer and association.
An uncertain future for exchanges in Venezuela
These measures reflect the increasing pressure on exchanges such as gold, which operate in an environment where galloping inflation and economic restrictions trigger the demand for financial alternatives.
Although Goncalvez denied any intention to promote speculation, the closing of El Dorado shows the challenges facing these platforms In a country where regulations and economic stability are constantly tension.
This scenario could impact other platforms with similar objectives, such as Binance, an exchange widely used in Venezuela that, despite being a foreign company, I could face access blockages for Venezuelan users in the future.