After LocalBitcoins cancels the local cash transaction service, its competitors retain the cash transaction option

According to Cointelegraph, the point-to-point bitcoin trading platform LocalBitcoins canceled the local cash transaction service, and its competitors are absorbing a small number of traders. Hodl Hodl said, "We prefer to close and stop operations, and we do not want users to be subject to KYC/AML sanctions. There is no market for KYC/AML P2P transactions." Hodl Hodl spokesman agreed that all future P2P platforms may be It is forbidden to ban cash transactions, but he believes that because its exchange is unmanaged and does not hold any bitcoin or fiat currency, it may have a greater chance of being allowed to operate. LocalEthereum puts forward the same view that its platform is also unmanaged and therefore may not be subject to certain regulations. Paxful CEO Ray Youssef said the company decided to keep the cash option. Therefore, it is unclear whether P2P transactions will be hit again, as this depends to a large extent on the jurisdiction of such services. The representative of Bisq said that the current P2P trading field seems to be confused by the sudden repression. "I don't see how buying bitcoin with cash is different from buying bananas or gold bars with cash. It doesn't matter if two people don't know each other." He added Exchanges (and even peer-to-peer exchanges) are subject to laws within their jurisdiction and traders should also comply.