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Russia Blocks P2P Exchange LocalBitcoins

Russia Blocks P2P Exchange LocalBitcoins

Russia's telecom regulator has blocked P2P Bitcoin trading website LocalBitcoins, according to reports from various sources.

  • Telecom regulator Roskomnadzor has banned access to the LocalBitcoins domain; some media outlets have reported that this has been happening since late August
  • The website can still be accessed through a VPN, and the fact that there has been no drop in activity indicates that VPNs are being used
  • Russia is LocalBitcoins largest market and experiences trade volumes of nearly $6.5 million on LocalBitcoins, according to Coin Dance 
  • LocalBitcoins was blocked 4 years ago, before being access was reestablished; Russia in July 2020 said that it would impose restrictions on the site
  • Possession of Bitcoin is legal in Russia, but it cannot be used as a means of payment

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