LocalBitcoins, one of the most popular P2P cryptocurrency exchange services, removed the option to make exchange operations with bitcoins in a personal meeting. The company did not comment or announce this step.

LocalBitcoins, one of the largest over-the-counter crypto exchange services, removed the option to exchange cryptocurrencies for cash in person without prior notice. Changes were found out by one of Reddit users. Now LocalBitcoins offers to make transactions only via electronic means, for example, bank transfers or payment services transactions.

 

Previously, LocalBitcoins users were offered the “In-person: Cash” option when buying or selling bitcoins. Transactions made in person through LocalBitcoins were one of the most popular ways to exchange cryptocurrencies.

The company has not yet commented on such a decision and did not confirm that the option to exchange bitcoins in person for cash is completely excluded from the list of possible methods of buying and selling cryptocurrency.

Last week, bitcoin trading volume on LocalBitcoins amounted to $58 million. In February, the platform announced its compliance with the new anti-money laundering directive adopted by the European Union, obliging its users to pass KYC procedures.