Localbitcoins bitcoin trading volume has shrunk since the implementation of strict KYC

Bitcoin trading volume of the peer-to-peer trading platform Localbitcoins has fallen sharply since October 1. In the week that ended on September 28th, Localbitcoins handled nearly $61 million in bitcoin transactions worldwide, and since then, the number has been falling. The platform's bitcoin trading volume fell to $47 million on October 5, and fell to $41 million on October 12, and fell further to $37 million last week. The trend is due to the fact that the exchange began implementing strict AML and KYC requirements on a global basis on October 1.