New and existing users residing in the countries listed below are now able to activate their accounts by filling up the additional verification form through the Verification tab in their account’s settings. These users can activate their accounts and use LocalBitcoins normally once their additional verification form is completed and approved by LocalBitcoins. The list of countries subject to additional verification is determined by the relevant authorities in LocalBitcoins’ jurisdiction and might be updated from time to time.
The Finnish Financial Supervisory Authority, FIN-FSA, has registered LocalBitcoins as an official virtual currency provider. Starting from the beginning of November 2019, only registered virtual currency providers that fulfil the legal requirements are allowed to operate in Finland.
LocalBitcoins.com was created as an easy way for anyone to have access to Bitcoin in 2012 by Jeremias Kangas, who was convinced of Bitcoin’s importance in a global economy. Together with his brother, Nikolaus Kangas, they saw the peer-to-peer marketplace grow to over 100 000 active users already within its first years of operation. During 2017, LocalBitcoins entered a phase of exponential growth in trade volume, followed by an increase of nearly 300% in staff size.
The verification forms for all account Tiers have now been enabled. In order to ensure that every user will have able time to update their account’s status, LocalBitcoins has extended the deadline to provide Tier verification. Existing users will have until the 1st of October to upgrade their verification according to their account’s respective Tiers.