LocalBitcoins Bans Iranian Users
Main page News, Bitcoin, Iran

LocalBitcoins.com, the world's most-popular P2P Bitcoin trading platform, cannot be accessed by Iranian users anymore.

Without prior notice, all Iran-based users have been banned from the popular crypto platform, whose headquarters are in Helsinki.

The company has not given any explanation for this ban. However, it looks like it might be caused by the U.S. sanctions imposed to the country.

The first news on the ban were shared in local Telegram channels, in which several users said they were encountering problems when posting new trades and updating previous ones.

Even though the platform has not shared any official announcement, one of its users has apparently received a response from LocalBitcoins stating the following:

"If you have an account already, you will be able to withdraw your bitcoins, but you will not be able to use the platform for trading."

The users who try to access the site are getting a message that says:

Why it is important

  • In an attempt to avoid the U.S. sanctions, Iran launched in February this year PayMon, its own stablecoin linked to gold.

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