Allegedly the reason for restricting Iranian transactions is to comply with financial regulations in Finland, where the headquarters of LocalBitcoins.com is located. Also, exchanges are cutting off Iranian users due to sanctions previously imposed on other exchanges by the US. As such, crypto exchanges such as Coinbase and Binance do not currently support users living in Iran.
However, one of the advantages of LocalBitcoins for Iranian users was that it did not require a credit card or online payment. This meant that Iranian users without international bank accounts could still buy and trade crypto.
Every day we send out a free e-mail with the most important headlines of the last 24 hours.
Subscribe now
We welcome comments that add value to the discussion. We attempt to block comments that use offensive language or appear to be spam, and our editors frequently review the comments to ensure they are appropriate. If you see a comment that you believe is inappropriate to the discussion, you can bring it to our attention by using the report abuse links. As the comments are written and submitted by visitors of the The Paypers website, they in no way represent the opinion of The Paypers.