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March 26, 2019
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Bitcoin-focused person-to-person trading platform, which was considered to be one of the last public web sites where anyone could buy/sell bitcoin (BTC) anonymously, has changed its Anti-Money Laundering (AML) and Know Your Customer (KYC) policies.

In July 2018, the European Commission brought into force the 5th Anti-Money Laundering Directive (Directive 2018/843 of the European Union, also known as 5AMLD) which for the first time takes into consideration digital assets.

On Monday 18th March, LocalBitcoins has launched a modified account registration process where users can identify general information already during sign-up.

The new id verification system will reportedly introduce 4 individual account types per trade and BTC transaction volume. According to LocalBitcoins that should increase trustworthiness and add distinction to the user profile.

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