LocalBitcoins removes cash-for-crypto trading option

posted 4 months ago
Helsinki-based peer-to-peer exchange LocalBitcoins has removed the option allowing users to buy or sell cryptocurrencies in person for cash. In a Reddit post Sunday, a LocalBitcoins user pointed out the option was no longer available on the platform, though some comments suggested the restriction might be limited to the US.

The removal of the option – which acts as a matchmaker for users to make trades in person – effectively bars LocalBitcoin users from selling and buying bitcoin for cash. LocalBitcoins has also cancelled pending cash trades, other comments suggest. LocalBitcoins’ move comes after the company announced in February that it would comply with the European Union’s (EU) new anti-money laundering directive. It’s worth noting that P2P Bitcoin trading platform Hodl Hodl still offers the in-person cash option.
Tags: bitcoin, news