LocalBitcoins ends anonymity following new EU regulations

posted 3 months ago
Anonymous Bitcoin buying and selling on LocalBitcoins is no more. LocalBitcoins is officially changing its policy after receiving pressure from the European Union. The EU-based exchange announced yesterday the implementation of new KYC measures to satisfy the European Union’s 5th Anti-Money Laundering Directive.

The new EU law has a few stipulations. For example, KYC is more routinely enforced and financial investors can, by mandate, obtain addresses and identities of cryptocurrency owners. Cryptocurrency exchanges and wallet providers must also be registered with the relevant financial regulators of their home countries.
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