The popular p2p-platform for buying and selling bitcoins LocalBitcoins, apparently, introduces mandatory verification for traders operating with significant amounts of funds. This is reported by Bitcoin News.
Despite the fact that the company has not yet made an official announcement, new changes in politics are briskly discussed in the social network Reddit.
LocalBitcoins Error Message
A post on the Reddit forum /r/bitcoin showed a picture that stated a Localbitcoins user’s trade volume was “significant” this past year, and the trader had to verify their identity in order to keep trading.
In comments to the post on Reddit, crypto-enthusiasts share their views on the transition to an alternative p2p platform. Among the possible options - the Bisq site, Hodl Hodl and the P2P2 platform Paxful, which does not require the passage of KYC procedures.
As reported by Bitcoinist, rumors about the establishment of AML / KYC procedures for users of LocalBitcoins spread in January of this year, against the backdrop of a worldwide trend towards tightening regulation of cryptocurrency.