Trading platform Localbitcoins restricts its services for users in Iran

posted about 2 months ago
LocalBitcoins has begun restricting its service for Iranian users this week. As of now, creating new ads for buying or selling or updating old ads are restricted for Iranian traders. Big centralized exchange services like Coinbase, Binance, and others have already restricted Iranian users, either with the seizure of their cryptocurrencies or by preventing account setup in the identification phase.

As a result, many people used Localbitcoins, a bulletin board for exchanging Bitcoin, however Localbitcoins policy has changed, shunning Iranian users altogether. These restrictions are likely in compliance with financial laws in Finland where Localbitcoins is located.
Tags: bitcoin, news