Trading volumes on LocalBitcoins have dropped to their lowest level since 2013, according to data provided by CoinDance.
During the week that ended on February 22, just 3,144 bitcoins were exchanged on the platform. As a result, trading volumes fell to the levels registered in June 2013, when the platform started to operate.
It has recently been reported that due to EU regulations, LocalBitcoins has restricted access to its platform to residents of several countries: Botswana, Ethiopia, Ghana, Libya, Nigeria, Tunisia, 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.
LocalBitcoins has also removed the possibility of exchanging cryptos in person. In addition, it has tightened the users' verification process.
It looks like the recent changes in the conditions of the service have had a negative impact on trading volumes.
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