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Thanks to a conversation that I held @crypto.piotr and then read the publication that he did on the subject (AMLD5) was that I found out that it existed, I decided to investigate further you can read the publication of Piotr here
In July 2018, the European Commission put into force the 5th Directive against money laundering (Directive 2018/843 of the European Union, also known as (AMLD5)) from that moment I enter a period of adaptation which entered in total effective as of January 10, 2020.
As it was announced (AMLD5) they started working applying regulations, together with LocalBitcoins, a startup launched in 2012 and located in Helsinki, Finland with a Commercial presence to facilitate online commercial exchange between Bitcoin individuals for local currency and Ethereum, XRP and Litecoin, in more than 7916 cities and 248 countries.
In this sense, Localbitcoins is taking the first steps to comply with what the (AMLD5) dictates
LocalBitcoins suspends accounts in several countries.
Since Wednesday, January 22, many users have received a notification with the information that their account was frozen, the LocalBitcoins exchange platform sent the notification to users in more than 20 countries worldwide, in Latin America the affected countries will be they find, Puerto Rico and Panama as well as in the Caribbean Islands like Trinidad and Tobago, and the Bahamas.
Notification Sent.
Hi!
Unfortunately, your account will remain suspended for now. Please kind and wait for the process of activation to be complete.
If you are not willing to wait for your account to be activated and would like to withdrawyour bitcoin, you can request account deletion here: http://localbitcoins.com/accounts/profile-edit/delete-account/
We are very sorry for the inconvenience!
Best regards
Localbitcoins
All countries and affected users must go through an “improved” identification process all this to comply with the application of (AMLD5), the new regulation introduces within its main changes the obligation to verify the identity of all users who make use of these virtual currencies.
This measure of restricting the operations of its users based on the location of their accounts directly affects the volume of transactions which, from that day on March 22, have fallen vertiginously.
In this first stage there were only 22 countries around the world but I am sure that this measure will continue to apply it to other countries.
You have a localbitcoin account, are you one of those affected?
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