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Localbitcoins to Introduce New User Verification Rules

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Peer-to-peer crypto exchange Localbitcoins is preparing to implement updated requirements for the identity verification of its users. The company recently revealed it’s cooperating with regulatory agencies in Finland on the implementation of the latest EU anti-money laundering rules.

Also read: 3 Technical Proposals for Increasing Bitcoin’s Privacy

P2P Exchange Localbitcoins Advising Finnish Regulators

In a statement published on its website this week, the popular P2P coin trading platform Localbitcoins explained why the upcoming changes are necessary. The new 5th Anti-Money Laundering Directive (5AMLD), which was enforced by the European Commission in July 2018, covers virtual currencies. 5AMLD, or Directive 2018/843 ...

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