LocalMonero to Shut Down in Six Months Amid Regulatory Pressure and Internal Factors
LocalMonero, a peer-to-peer exchange for trading privacy coin Monero (XMR), has disabled all trades and will be taken down in six months, according to parent company AgoraDesk. The company cited a combination of internal and external factors for the decision, but did not provide specifics. The move follows a trend of P2P crypto trading platforms shutting down due to regulatory challenges, including LocalBitcoins and Paxful. LocalMonero's closure also comes amid pressure from regulatory authorities on privacy coins, with exchanges including Binance and Coinbase delisting tokens like Monero and Zcash.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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