According to analyst data CoinDance, the trading volume of BTC sure LocalBitcoins has fallen by almost 70% in the past 12 months and has fallen below 3,500 bitcoins traded weekly (compared to over 10,000 just 1 year ago).
Source: CoinDance
The decline comes as the site announced in March 2019 (red dot on the graph above) that it would be supervised byFinnish financial supervisory authority from November 2019.
Founded in Helsinki in 2012, LocalBitcoins is a platform for buying and selling Bitcoin between individuals via a multitude of payment methods. Unlike other crypto exchanges, and by its model, the site has long let its users trade bitcoins without verifying their identity.
Today, the company must impose strict identity checks in order to comply with the law for virtual currency services which came into force in the fall in Finland. Additionally, she recently had to remove the option " cash From his website which allowed for cash transactions.
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