Localethereum blog post reads “The platform is a one-stop shop for fiat-to-crypto ramps worldwide, beginning with BTC and ETH,” . It thus described the move transfer from LocalEthereum to Localcryptos.
More cryptocurrencies will join this in the nearest future:
“LocalCryptos will list some of the most popular Ethereum-based tokens over time. We’ll develop a new smart contract to handle ERC20s, and, in the more distant future, ERC721s.”
The move comes a week after LocalBitcoins revealed its registration with regulators in its home country of Finland. Part of a multi-year scheme to formalize its compliance, LocalBitcoins is now an official virtual currency provider in the eyes of the Finnish Financial Supervisory Authority or FIN-FSA.
After this many users found out that they were no longer able to carry out their transactions anonymously.
Executives had phased out ways of trading on LocalBitcoins without revealing one’s identity, banned cash trades and made ID submission obligatory.