In early April, trader exchange Localbitcoins Thomas CONSTANZO was accused of money laundering in the amount of 164 thousand dollars. Then, the exchange is considering the introduction of additional measures to protect and identify users. Now the company will require verification of traders in certain situations. About it writes .the
the New rules will come into force on 25 may. In some cases the users when registering will have to produce identity documents. We are talking about traders who plan to make a big deal. What deals will come under this category — not reported.
In the message exchange States that the reason for the introduction of additional diligence was the decree of the European Union on personal data protection General Data Protection Regulation. The document itself will start to work on may 25, while it is not directly related to trading opportunities.
the Verification will still be optional for most users. However, our task is to make Localbitcoins reliable and secure platform. We want to be sure that none of our clients are not laundering money and performs other illegal operations. Therefore, transactions for large amounts will be subject to more scrutiny.
According to the new requirements, one person cannot have more than one account. And the minimum age for registration is set at around 16 years.
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