LocalBitcoins Imposes Restrictions on Iranian Accounts

A source had previously told  in an email that the impetus for restricting Iranian transactions is to comply with financial regulations in Finland, where the headquarters of LocalBitcoins.com is located. Moreover, exchanges are purportedly cutting off Iranian users due to sanctions previously imposed on other exchanges by the United States.Major crypto exchanges  Coinbase  and  Binance do not currently support users living in Iran.One of the purported advantages of LocalBitcoins for Iranian users was that it did not require a credit card or online payment, meaning that Iranian users without international bank accounts could still buy and trade crypto, says the source.Earlier in May, United States Congressman Brad Sherman — a noted critic of cryptocurrencies in general — said that they are a threat to American foreign policy.

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