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Bitcoin (BTC) Peer-to-peer Exchange LocalBitcoins Suspends African Accounts: Details

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Thu, 01/23/2020 - 20:24
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Vladislav Sopov
Geo-restrictions on crypto services is a true plague for its users from some developing countries. Today some African Bitcoiners faced this challenge.
Bitcoin (BTC) Peer-to-peer Exchange LocalBitcoins Suspends African Accounts: Details
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Today one user of LocalBitcoins peer-to-peer Bitcoin (BTC) exchange from Kenia shared with local blog on crypto an email from the platform. Unfortunately, it may affect many.

Your account is suspended

According to this email, the European Union published a new list of countries treated as the territories that  require “an enhanced due diligence process”.

Ethiopia, Botswana, Tunisia, Lybia, Nigeria and Ghana are the countries LocalBitcoins imposed geo-restriction in. The users receive the information that their accounts ‘will remain suspended’ and they need to delete it in order to withdraw their Bitcoins (BTC).

Who is next?

As reported by local blockchain media outlet, they received the data about accounts suspension even from African countries not stated on the list. 

Also, there are some countries outside Africa in this new black list: from Afghanistan and Iraq to Panama, Puerto Rico, Sri Lanka and Saudi Arabia.

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About the author

Blockchain Analyst & Writer with scientific background. 6+ years in IT-analytics, 3+ years in blockchain.

Worked in independent analysis as well as in start-ups (Swap.online, Monoreto, Attic Lab etc.)