Bitcoin exchange Local Bitcoin is suspending user accounts

Popular Bitcoin exchange Local Bitcoin is suspending user accounts. Many have shared the situation on social media, as have news outlets in the Middle East, Africa and Asia. These accounts appear to be long-term users who have been receiving services from the exchange for many years and that the account was closed without any advance warning. The exchange released follow-up news explaining that customers in certain countries must go through an "enhanced due diligence process" to continue using Local Bitcoin. It is unclear what the process requires, and the exchange was unable to provide any other details.