Pi Capital
Date of publication: 26 January 2020
LocalBitcoins has suspended user service from 21 countries
The company has introduced an “enhanced legal review process” in some regions in accordance with the requirements of the European Commission.
The localBitcoins peer-to-peer platform has limited access for users from 21 countries, the BitcoinKE portal writes. The company's customers received a message stating that in accordance with the requirements of the European Commission, the exchange has implemented a “strengthened legal examination process”.

Access to the service has been lost by users from Afghanistan, American Samoa, The Bahamas, North Korea, Ethiopia, Ghana, Guam, Iraq, Libya, Nigeria, Pakistan, Panama, Puerto Rico, Samoa, Saudi Arabia, Sri Lanka, Syria, Trinidad and Tobago , Tunisia, US Virgin Islands and Yemen. Customers from other countries also report account access issues. For example, a trader from Uganda said that he was offered to close his account and withdraw his cryptocurrency.

Last November, LocalBitcoins obtained a virtual currency provider license from the Finnish Financial Services Authority. To this end, the site has implemented anti-money laundering and customer identification measures, as well as user protection.

Alexey Shternshis
Pi Capital Union

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