In this conversation, conducted at the Oslo Freedom Forum, Vera Xavier, LocalBitcoins’ Community Manager and Elena Tonoyan, Chief Customer Success Officer, describe what the Helsinki-based company does, how it got started, how its escrow system works and why the company typically keeps a low profile. We also cover who their typical users are (hint: it’s a broad swath), how usage differs across geographically and types of economies, and how LocalBitcoins can be used in countries with authoritarian regimes. We also cover some regulatory issues such as why it had to stop service in Iran recently.
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LocalBitcoins bans trading in Iran: https://www.coindesk.com/localbitcoins-bans-bitcoin-buying-in-iran-in-blow-to-rising-crypto-commerce
FinCen guidance indicating LocalBitcoins sellers in the US are money transmitters: https://www.fincen.gov/sites/default/files/2019-05/FinCEN%20Guidance%20CVC%20FINAL%20508.pdf
Removal of Local Cash Ads: https://twitter.com/LocalBitcoins/status/1135872083962081281