LocalBitcoins Sees Increased Business in Russia
It seems LocalBitcoins has become the new hot (and illegal) business in Russia. Just last week, the company saw record transactions when over 250 million rubles were exchanged for everybody’s favorite digital currency, equaling nearly $4 million in USD. Despite Russian regulators restricting access to the site back in September, the company is not only doing business, it appears to be thriving. Russia has certainly had an up-and-down relationship with digital currency over the last four years. From enforcing penalties upon those using it to saying it’s “not so bad,” Russia just can’t seem....
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Localbitcoins saw a roughly 85 percent increase in global volume over the course of 2016, and the growth seen by this bitcoin trading platform was seen equally in both the developed and developing world—albeit for different reasons. While the need for increased privacy and the avoidance of Know Your Customer regulations is known to be the driving force....
The decision to block LocalBitcoins was made on July 5th of 2016, albeit it did not go into effect until recently. The story of Bitcoin in Russia has taken yet another exciting turn. While the news is far from positive, there are so many conflicting reports in the country it is generating a lot of interest. While WebMoney will accept Bitcoin payments soon, using LocalBitcoins is now prohibited. One just never knows what will be next for Russian Bitcoin enthusiasts. Similarly to what happened to various Bitcoin news sites in Russia, LocalBitcoins is now inaccessible by Internet users. The....
Russia’s Administration for Telecom and Internet Roskomnadzor has blocked peer-to-peer local Bitcoin exchange LocalBitcoins. They have blacklisted the domain, and it is now inaccessible by Russian ISPs. However, Nikolaus Kangas, CEO of LocalBitcoins, thinks that this ban is only temporary and stays optimistic about the future of his company in Russia and Bitcoin in general. At the end of August, about 1.35 million users from 249 countries were registered at LocalBitcoins, where the weekly volume of transactions on the platform exceeded $14 million. It is possible to work around the block.....
LocalBitcoins’ website has been blacklisted in one of its key markets. LocalBitcoins, a major peer-to-peer cryptocurrency exchange, is no longer available in Russia without using additional tools like a VPN.LocalBitcoins.net is officially blacklisted in Russia as local telecom regulator Roskomnadzor placed the URL on a register of platforms disseminating prohibited information.According to official data, the website was blacklisted on July 21, following an order of the Onezhsky City Court of the Arkhangelsk region.It’s not immediately clear when exactly Roskomnadzor limited the access to....
Mad money policy and Bitcoin’s Christmas rush have produced new record trading volumes on LocalBitcoins in four countries this week. Russia, Chile and Romania set new highs in an international push coming on the back of Bitcoin’s spiraling price, which reached over $935 Tuesday. Against all odds. Venezuela improved on its personal best, with over 6.5 mln bolivars traded on the week of Christmas Eve, December 24. Its previous high of 6.4 mln was set three weeks earlier, amid panic brought on by president Nicolas Maduro suddenly decommissioning the country’s highest-value banknote. Russia....