Venezuela suspends Kontigo's license and cuts it off from local banks
Venezuela's crypto regulator SUNACRIP temporarily suspended the license of stablecoin app Kontigo. Bank regulator SUDEBAN then told banks to end dealings with it. Users cannot move funds through local banks but can still withdraw USDC to external wallets. Separately, CNBC reported that Sankaet Pathak's robotics startup missed payroll after he took a $4.6 million loan.
Venezuela's crypto regulator SUNACRIP temporarily suspended the license of stablecoin app Kontigo. Bank regulator SUDEBAN then told banks to end dealings with it. Users cannot move funds through local banks but can still withdraw USDC to external wallets. Separately, CNBC reported that Sankaet Pathak's robotics startup missed payroll after he took a $4.6 million loan.