Altcoin News: LocalBitcoins Eliminated the Possibility of a Cryptocurrency Exchange in Person

June 3, 2019, by Marko Vidrih on ALTCOIN MAGAZINE

The popular peer-to-peer exchange platform LocalBitcoins went to another unfriendly step towards its users.

As the discussion participants at Reddit pay attention, the possibility of buying/selling cryptocurrency during a personal meeting for cash, which was one of the most interesting service options, suddenly disappeared from the site.

According to the archival version of the LocalBitcoins page for the American region, on the night of June 1, the corresponding option was still available to users. At the time of publication, the possibility of a cryptocurrency exchange during a face-to-face meeting was disabled for all of the verified regions.

Image credit: LocalBitcoins

Thus, LocalBitcoins users are now only available to those types of Fiat transfers that are carried out using electronic communications, including bank transfers. The company itself did not give any comments in connection with the latest changes.

LocalBitcoins previously reported the intention to tighten the requirements for the identification of customers in accordance with the European Directives to prevent money laundering. Probably, the restriction of cash transactions is part of the course chosen by the company.

Also last week, LocalBitcoins restricted access to its site by users from Iran.

Author: Marko Vidrih