LocalBitcoins has blocked the accounts of residents of 6 countries due to the requirements of the European Commission
LocalBitcoins p2p platform has limited access for users of several African countries due to EU requirements, the BitcoinKE portal reports with reference to 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 a “rigorous audit”.
Botswana, Ethiopia, Ghana, Libya, Nigeria and Tunisia joined the list of countries whose residents no longer have access to LocalBitcoins. Among them are Afghanistan, American Samoa, Bahamas, North Korea, Iraq, Guam, Pakistan, Panama, Puerto Rico, Saudi Arabia, Syria, Trinidad and Tobago, Yemen, US Virgin Islands and Sri Lanka.
Residents of other African countries not included in this list also complained about blocking accounts.
So, one of the traders living in Uganda received a letter informing them of the temporary blocking of the account 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.
wow! that's pretty fucked up..
i'm not even sure how to process that. i used to trade pretty heavy on lbc back in my atm days. can't even imagine how i'd feel receiving this notice, but.. i'm not surprised.
that's the problem with centralization (and lack of choices). after Shapeshift went KYC (which literally brought a tear to me eye), up popped Changelly and the world was right again.