LocalMonero Ceases Operations

LocalMonero, a platform facilitating peer-to-peer exchange of the Monero cryptocurrency, has announced the sudden decision to close its services after 7 years of operation serving the XMR community. This is another platform shutting down recently, dealing another blow to the world of privacy-focused cryptocurrencies.

On May 7th, LocalMonero announced that it would suspend the registration of new users and the publication of Monero exchange ads from that moment onwards. On May 14th, the platform will completely disable trading with this private cryptocurrency.

Company representatives stated that the closure is due to "internal and external factors," but did not disclose specific reasons for this decision.

The closure of LocalMonero has been seen by some as another blow to private cryptocurrencies and protocols, especially after recent events such as Kraken ending support for Monero for customers in Ireland and Belgium, and lawsuits against Tornado Cash.

Although the platform did not provide a clear reason for the closure, users speculate, suggesting that there is currently a battle against privacy in the world of cryptocurrencies. However, opinions on the intentions of intelligence agencies are divided, with some claiming that their main interest is to eliminate threats associated with the use of cryptocurrencies by criminals.