LocalBitcoins P2P platform terminates service for Russia after new EU sanctions \ stacker news ~bitcoin

LocalBitcoins P2P platform terminates service for Russia after new EU sanctions nitter.it/SmithSthainnoc/status/1578919520768442368

764 sats \ 6 comments \ @P2P_bitcoin 10 Oct 2022 bitcoin

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59 sats \ 1 reply \ @DeezSats 10 Oct 2022

That's the problem with centralized services.

101 sats \ 0 replies \ @P2P_bitcoin OP 10 Oct 2022

HodlHodl, based out of the EU, LocalCryptos, LocalCoinSwap, and RoboSats are also centralized services -- but they have not mentioned complying with these sanctions from the EU.

They are KYC-Free P2P platforms, (and non-custodial as well) so they can't even know which users are in Russia (albeit I suppose if they wanted to they could restrict listings for RUB (currency) and/or payment methods exclusive to Russia.

Bisq, being a second layer protocol implemented with open source software is probably the only true decentralized P2P trading platform, at this point.

26 sats \ 0 replies \ @TheBTCManual 10 Oct 2022

Oef!! That's not a good look especially after all this paypal drama, as if Russians have no need for bitcoin, every countries citizens do

25 sats \ 0 replies \ @faithandcredit 10 Oct 2022

it seems that the EU has learned nothing since Hitler.

Caus all Russians are banned now, imagine if was all Jews. I mean i guess they have learned a little bit, since its technically not jews this time. And there are no concentration camps, but still. They are acting like hitler junior.

0 sats \ 1 reply \ @P2P_bitcoin OP 10 Oct 2022

The link for this post uses a read-only front-end for Twitter, which can be easier to read for viewing a full Twitter thread. The Tweet that kicked off the thread is:

According to some Russian subscribers of Telo News (https://t.me/telonews_en), LocalBitcoins has already banned all Russian users (https://t.me/telonews_en/3028)

https://twitter.com/SmithSthainnoc/status/1578919520768442368

Cryptocurrency exchange @LocalBitcoins has notified Russian citizens of the suspension of service due to sanctions.

Citizens of the RF will no longer be able to use the service. An exception is made only for persons with dual citizenship of the EEA & Switzerland.

https://twitter.com/OstanniyCap/status/1579069024373133312 [Nitter]

0 sats \ 0 replies \ @P2P_bitcoin OP 10 Oct 2022

Found an article on this:

LocalBitcoins exchange announces the termination of serving Russian users https://getblock.net/en/news/localbitcoins-exchange-announces-the-termination-of-serving-russian-users/

For more details on the EU sanctions, see also another post, found here on SN, which shared the Press Release from the EU:

EU bans providing crypto wallets, accts, & custody svcs to Russian govt & people #78044 https://ec.europa.eu/commission/presscorner/detail/en/ip_22_5989

also see another post, found here on SN, with an article from Bitcoin Magazine:

EU Issues Bitcoin, Crypto Ban On Russia With New Sanctions #78099 https://bitcoinmagazine.com/legal/eu-issues-bitcoin-crypto-ban-on-russia

and there is another post as well, found here on SN, with an article on this from Coindesk:

EU’s Russian Crypto Ban Confirmed as Bloc Tightens Sanctions #78052 https://www.coindesk.com/policy/2022/10/06/eus-russian-crypto-ban-confirmed-as-bloc-tightens-sanctions