One of the most popular ways for users to buy and sell bitcoin has announced a change that is sure to upset German digital currency enthusiasts.
LocalBitcoins.com took to their Twitter account on Monday to announce that their services will no longer be available to users in Germany. The announcement comes much to the displeasure of those reliant on the service to acquire or get rid of their bitcoins.
LocalBitcoins.com has said the reason relates to “regulatory reasons,” though the service didn’t exactly specify which regulations were preventing them from continuing their operation in the country.
Of course, for now it doesn’t exactly seem like there’s a light at the end of the tunnel, though LocalBitcoins.com does say that they “hope this [service suspension] is temporary.”
http://t.co/byGAoG3WSI won’t be available in Germany anymore due to regulatory reasons. We hope this is temporary. Press enquiries via email
— LocalBitcoins.com (@LocalBitcoins) December 8, 2014
For now, users in Germany have a number of other options available to them, so not all hope is lost.
LocalBitcoins.com was one of the first venues for users to buy and sell bitcoin, allowing its user base to agree on a price and specify a time and place to meet to make the transaction happen in person.
Of course, we’ll have further updates for you on the matter as they become available. Stay tuned.
