What about LocalBitcoins after the ban of transactions for cash?

One of the most popular peer-to-peer LocalBitcoins scriptomania in the world at the beginning of this year was already criticized for the introduction of KYC and AML. Moreover, not so long ago the platform without warning, he closed the opportunity to exchange cryptocurrency for cash. According to representatives of the exchanger, the innovation associated with kompleksom. Because of this, the platform has already lost a considerable share of users.

One of influencers in space WhalePanda said that LocalBitcoins “risks repeating the fate ShapeShift”. In turn, the Creator of Litecoin Charlie Lee stated that “no cash exchange LocalBitcoins has no meaning.”

They have KYC and transactions online, then that makes this platform and exchange on-premises? As further in the discussion said the MOU is “more like not the best crypto currency exchange”.

What think others?

Not remained aloof and chief Monero Riccardo’s Spanyi. In his opinion, the platform “for quite some time is on a weird track”.

They have completely banned access to the local exchange in Germany, and then introduced KYC and AML for all users. You know, I don’t really support what they are doing.

As noted by Spani, the problems with regulators is overdue due to the fact that the platform acted as eksrou service that would allow in that case to resolve the dispute. According to Charlie Lee, it was designed so, because all want to make money, and LocalBitcoins is not an exception.

See also: LocalBitcoins officially closed the ability to buy cryptocurrency for cash.

They have had the opportunity to use the model works like Bisq, where for peer-to-peer transactions are also used multipurpose. However, the platform works on the principle of decentralization, and therefore does not fall under any jurisdiction.

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