On the p2p platform LocalBitcoins began to operate the new rules of customer verification. Changes related to the new Finnish legislation, which should correspond to the operator.
From 1 September, users whose annual trading volume (which is updated every hour) does not exceed 1 thousand euros, must provide full name, country of residence, email and phone number. If the volumes above, you must complete a full KYC procedure and to provide a passport or another identification document. Only in the new system four levels of accounts depending on trading volumes.
LocalBitcoins previously allowed users in countries with the economic downturn and progressive hyperinflation quickly, safely and anonymously conduct transactions in bitcoin.
In late August, LocalBitcoins has extended the renewal date of the accounts until 1 October. Users who do not comply with the requirement before the deadline, will lose the opportunity to trade until you pass the KYC procedure.
The representatives were also asked to enter personal data in Latin, however, was allowed to provide them to several languages.
Earlier LocalBitcoins has disabled the sale and purchase of bitcoins for cash in person.
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