What happened to local bitcoin trading site..do to the sudden implementation of KYC procedure regular traders getting shocked with the limitation of LBC trading... already we facing various issues from government sides, then the sudden KYC implementation gives negativity so the traders are decreases day by day. Finally the KYC procedure not user friendly, If we produce the right id proofs then also getting rejected. If it continues we dont no what happen to LBC next?
The government has putting a lot of pressure, everything that involves crypto in general including LBC. And to be fair, there are a lot of exchange platforms who succumbs before LBC does. And in the next coming years, authorities will be more aggressive and will push for KYC implementation.
I don't think it will give negativity though, well it depends on how you look at it, lots of pros and cons. However, if this is one way to really protect us traders then it will be the best solution, win-win for us.