The LocalBitcoins service will have to comply with European regulations, facing another severe restriction similar to the US market. The service has been instrumental to the growth of investment and adoption, especially in developing markets, and shows a significant demand in South America.
LocalBitcoins, which operates from Finland, will have to comply with local financial regulations, especially matching the requirement for anti-money-laundering (AML) and know-your-customer (KYC) procedures.
The service will have to become fully compliant before November 2019, as it falls under the financial regulations for offering escrow services, or a form of custodial wallet. Since March 18, the service requires account registration with ba...