April 19, 2024

LocalBitcoins has blocked the accounts of residents of 6 countries due to the requirements of the European Commission

p2p platform LocalBitcoins has restricted access for users in several African countries due to EU requirements,the BitcoinKE portal reports citing information from local traders.

A letter from one of them received from LocalBitcoins states that users from a number of countries identified by the European Commission need to undergo an “enhanced audit”.

LocalBitcoins has blocked the accounts of residents of 6 countries due to the requirements of the European Commission

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Botswana, Ethiopia, Ghana, Libya, Nigeria and Tunisiaadded to the list of countries whose residents no longer have access to LocalBitcoins. These include Afghanistan, American Samoa, the Bahamas, North Korea, Iraq, Guam, Pakistan, Panama, Puerto Rico, Saudi Arabia, Syria, Trinidad and Tobago, Yemen, the US Virgin Islands and Sri Lanka.

Residents of other African countries not included in this list also complained about the blocking of accounts.

So, one of the traders living in Uganda,I received a letter informing you that the account was temporarily suspended until the completion of the new account activation process. In case of disagreement, he was offered to withdraw cryptocurrency and send a request to delete the account.

LocalBitcoins has blocked the accounts of residents of 6 countries due to the requirements of the European Commission

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Recall, from September 1 last year onLocalBitcoins has entered into force new user verification rules. The toughening of KYC / AML measures is connected with the new Finnish legislation, which the operator company must comply with.