Localbitcoins.com new Restrictions

[BitMart 326]

Customers residing or otherwise located in the following countries are required to have an enhanced due diligence process. The countries are defined by EU commission: Afghanistan, American Samoa, The Bahamas, Botswana, Democratic People’s Republic of Korea, Ethiopia, Ghana, Guam, Iraq, Libya, Nigeria, Pakistan, Panama, Puerto Rico, Samoa, Saudi Arabia, Sri Lanka, Syria, Trinidad and Tobago, Tunisia, US Virgin Islands, Yemen.
The process to activate the account will be introduced in the near future, unfortunately there’s no estimated time. If you’re not willing to wait for your account to be activated, you can withdraw your bitcoins by deleting your account.

What your thoughts is this hurting more or no.

[BitMart 326]

10 minutes ago, farhanpro613 said:

Can you tell the process, and how can i get to know that the restrictions will be added is any warning gonna be given before this.

No warning they already announces that members from these countries are not able to use this plateform until new system of verification done if you are in hurry then delete your account and withdraw your amount which I done today.

[Crypto123 0]

It is very unfortunate that the countries banned from Crypto services are identified by the European Union Commission. What is the relationship of crypto to politics, and why are people in these countries prohibited from dealing with bitcoin and other cryptocurrencies ?? !!! This is really shameful.

[shafi123 187]

I know about this not more because i am new here and learn trading through btc.

[Popedee 377]

On 1/23/2020 at 2:13 PM, BitMart said:

Customers residing or otherwise located in the following countries are required to have an enhanced due diligence process. The countries are defined by EU commission: Afghanistan, American Samoa, The Bahamas, Botswana, Democratic People’s Republic of Korea, Ethiopia, Ghana, Guam, Iraq, Libya, Nigeria, Pakistan, Panama, Puerto Rico, Samoa, Saudi Arabia, Sri Lanka, Syria, Trinidad and Tobago, Tunisia, US Virgin Islands, Yemen.
The process to activate the account will be introduced in the near future, unfortunately there’s no estimated time. If you’re not willing to wait for your account to be activated, you can withdraw your bitcoins by deleting your account.

What your thoughts is this hurting more or no.

Well, when I got this notification in my mail, too and as a Nigerian, I closed my account. If Binance can create a naira base pair on its exchange for Nigerians, I don't understand the reason for the enhanced due diligence. There are other OTC exchanges like Remitano and nairaex I can use as a Nigerian for crypto-fiat exchange

[Popedee 377]

On 2/10/2020 at 12:08 AM, SCB1234 said:

I'd have to know more about what the due diligence refers to. I think that KYC is going to be required legally in a few months.

Due diligence is beyond KYC as most Nigerians on localbitcoins are KYC verified. The problem with this rule is that it's alienating Nigerians from it's platform. Thank Good there's Remitano and Nairaex

[Afrizal rahman 2636]

It seems like the countries you mentioned must indeed wait for time to be able to carry out all that. If you are impatient, that's right what you said you can delete your account. I just ordered, just wait patiently.

[amara123123 76]

Oh no my country is also in restricted list of countries. My country is Pakistan hopefully we can use another site for with draw purpose may be localbitcoin modify their rules. 

[Rickso 768]

On 1/23/2020 at 2:13 PM, BitMart said:

Customers residing or otherwise located in the following countries are required to have an enhanced due diligence process. The countries are defined by EU commission: Afghanistan, American Samoa, The Bahamas, Botswana, Democratic People’s Republic of Korea, Ethiopia, Ghana, Guam, Iraq, Libya, Nigeria, Pakistan, Panama, Puerto Rico, Samoa, Saudi Arabia, Sri Lanka, Syria, Trinidad and Tobago, Tunisia, US Virgin Islands, Yemen.
The process to activate the account will be introduced in the near future, unfortunately there’s no estimated time. If you’re not willing to wait for your account to be activated, you can withdraw your bitcoins by deleting your account.

What your thoughts is this hurting more or no.

localbitcoins headquarter is in finlad so they have must to follow the EU rules, EU recently upgraded their anti money laundering so if they want to continue to offer their services on the eu territory this must be done for security reasons

[Zentoly 419]

I do not know that why the localbitcoins exchange are creating more difficulties to their users and I think they need to ask their users KYC simply but when I see its KYC process I think it is more hard for us .

[Popedee 377]

On 2/14/2020 at 12:24 PM, Rickso said:

localbitcoins headquarter is in finlad so they have must to follow the EU rules, EU recently upgraded their anti money laundering so if they want to continue to offer their services on the eu territory this must be done for security reasons

So EU rules is the reason they listed those countries for due diligence even after KYC verifications? That's how shapeshift dies off as an exchanger. Seen Binance having subsidiaries in different countries with these subsidiaries tailored to fit rules obtainable in the country of operation but localbitcoins wants us all to be governed by EU laws even when most people I trade with on their platform are Nigerians

[gigabyteRTX 1583]

Well I can't nt keep up on what you are talking about maybe I will search for it more to give a concrete answer in your topic, anyway, I see that it is all about restrictions so maybe it is a set of instructions that a user of that site should follow.

[BTC Future 3946]

It is sad to see enforced restrictions like these happening. Localbitcoins has a long history and this creates difficulties for the adoption of crypto from these nations. They were instructed to add these restrictions by the EU according to the new KYC/AML rules they've added in the beginning of the year. Basically they would probably had to shut down if they didn't apply them.

[Mohnet 33]

Always we expect Sudan in any black list for sites that works in business field but i surprised to find that sudan is not available in this list and that make me very happy to read that go on to remove sudan from black lists

[wijont 101]

it's far very unlucky that the international locations banned from Crypto offerings are identified by means of the ecu Union fee. what's the connection of crypto to politics, and why are people in these international locations prohibited from managing bitcoin and different cryptocurrencies

[hangomao 15]

On 1/23/2020 at 6:13 PM, BitMart said:

Customers residing or otherwise located in the following countries are required to have an enhanced due diligence process. The countries are defined by EU commission: Afghanistan, American Samoa, The Bahamas, Botswana, Democratic People’s Republic of Korea, Ethiopia, Ghana, Guam, Iraq, Libya, Nigeria, Pakistan, Panama, Puerto Rico, Samoa, Saudi Arabia, Sri Lanka, Syria, Trinidad and Tobago, Tunisia, US Virgin Islands, Yemen.
The process to activate the account will be introduced in the near future, unfortunately there’s no estimated time. If you’re not willing to wait for your account to be activated, you can withdraw your bitcoins by deleting your account.

What your thoughts is this hurting more or no.

They have made necessary the enhanced security and i am unable to verify my account, So do not know the reason behind this.

[Whited35 15285]

Due to certain rules and the regulations of the different countries, the specific exchange sites issues the limitations and the restrictions by targeting the some countries in the world. Personally, I really do not like this sort of practice in this modern age. 

[rianpedia 816]

On 2/19/2020 at 1:00 AM, gigabyteRTX said:

Well I can't nt keep up on what you are talking about maybe I will search for it more to give a concrete answer in your topic, anyway, I see that it is all about restrictions so maybe it is a set of instructions that a user of that site should follow.

It seems like there is already a guide on the site and related knowledge about the site, how it works and frequently asked questions. if unclear it doesn't hurt to ask the site admin.

[tienda 8776]

Sincerely I dont understand why a such website exchange or services restrict some countries to have access to their services! for them there are some as human others are animals! nothing is logically in what happens on this world!

[Calvinpriva 17296]

This affected many localbitcoins users and they also lost a large traffic. Those are many countries and i believe many users quit localbitcoins because of this issue. But localbitcoins its a great site and everything which is good requires patience. 

[jamesvince 2389]

Oh there is more then ten countries now can't used localbitcoin. Come site for p2p exchange. Because few years ago this sites working on all these countries now majority of developing countries are banned from using this p2p exchange facilities.

[scorpiali 5626]

We can see many exchange restrict many countries like that and ask user to withdraw her founds because they not allowed to trade on her exchange,i use localbitcoin all the time and i hope they dont restrict my country or limit the trade 

[Honny143 13612]

I use this localbitcoin exchange couple of months its really great platform, sell our crypto currency p2p without any problem but unfortunately this exchange restricted some countries, its really sad news for this country users, I think this countries ban crypto totally that's why localbitcoin take this decision, but hope in future this country users eligible to use this exchange services.

[Raqeebzy 6456]

This is rather a bad news to cryptocurrency users in the countries. I read about it; This was the directive of the European commission after their 5th Anti-Money Laundery Directive to all members states. You can follow this Link to read more about it.

[malik6314193 5449]

This is not good for those countries. I am not using this exchange forum but it is not good for their users. But good thing is that users can get their assets back.