Main page News, Fintech, Bitcoin, Exchange, Cryptocurrency Exchanges, Money Laundering, Cryptocurrency
Hot topic
March 26, 2019

Bitcoin-focused person-to-person trading platform LocalBitcoin.com, 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.

Subscribe to our Telegram channel to stay up to date on the latest crypto and blockchain news.

Read also:
Please describe the error
Close