Hodl Hodl now blocks US residents from its lending services, allowing only the completion of existing loans.
In a recent blog post, Hodl Hodl announced that its Lend service will no longer be accessible to residents and citizens of the USA, as well as other unspecified nations.
The decision to block access to the Lend platform for US-based users was described as a move to enforce a stricter policy regarding the countries allowed to use Hodl Hodl's services. "After careful consideration, we have decided to implement a stricter policy on allowed countries for our services," Hodl Hodl explained in the blog post. They emphasized the need to adapt to "regulatory uncertainty" and to maintain "the highest standards of security and integrity for our platform and users."
While existing users in the affected regions will be allowed to finalize their current loans, they will not be able to initiate new ones from this point forward. Hodl Hodl also clarified that its peer-to-peer trading marketplace had never catered to US customers, indicating that the policy change is an extension of its existing approach to service provision in the country.
The company has urged all users to consult the latest version of their Terms of Service (ToS) to view the complete list of countries that are now restricted from using the Lend service. This list includes the US, Cuba, North Korea, Iraq, Iran, Puerto Rico, Somalia, Syria, Sudan, and any other jurisdictions embargoed by the United Nations.
