Local Bitcoin News reportBitcoin buying and selling platform LocalBitcoins announced Thursday that it has decided to shut down its service. The upgrade is a sad message for bitcoin traders, as the service has been around for a decade. The platform decided to terminate the service under the pretext of the current poor market situation of the ongoing login password in winter. The company said that because of the very cold weather login password winter, sales and market share dropped significantly, resulting in this determination.

Local bitcoin was shut down.

The platform gives customers 12 months to get assets from their wallets. The company said in a statement that the current state of the market is not conducive to recovery. The platform has a customer base of 8 million and covers more than 190 countries and regions. The password community is saddened by the closure of one of the oldest bitcoin sales and marketing platforms.

Although we try to overcome all kinds of tests in the continuous, very cold weather during the winter, during which our own trading volume and market share continue to decline, we regret to conclude that local bitcoins will no longer be able to provide trading services. "

On the other hand, some people think that LocalBitcoins has been shut down to solve the risk control under the current conditions. A recent Financial Crime Inspection Internet (FinCEN) report pointed out the local bitcoin, which involves the sale of Bitzlato. In FinCEN's documentation, LocalBitcoins is mentioned as one of the three major counterparties of Bitzlato. In the document, the bitcoin trading platform is described as a company headquartered in Germany or a virtual asset service provider (VASP) registered in Germany.