Bitcoin

LocalBitcoins quietly removes in-person cash trades

June 2, 2019, 10:57AM EDT

LocalBitcoins, one of the most popular peer-to-peer exchange and escrow service, has removed the option for its users to trade bitcoins for cash in person. The move was first discovered on Reddit and later confirmed by The Block. Prior to the removal, users of LocalBitcoins could select "In-person: Cash" as an option when buying or selling bitcoins.

LocalBitcoin's In-person Cash option before its removal

It is unclear whether this removal is temporary or permanent as LocalBitcoins has yet to make an official announcement. Interestingly, some users are attempting to circumvent this removal through a variety of methods as seen in the screenshot below.

LocalBitcoins is accessible in 248 countries and 7571 cities. Just last week, LocalBitcoins has facilitated $58 million in bitcoin trades. In February, the platform announced that it would comply with the new anti-money laundering directive enacted by the European Union, adding KYC processes for its users. 

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