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LocalBitcoins Partners With Crypto Tracing Firm To Stop Illicit Funds On The Exchange

Emily Mason

Summary: Peer-to-peer Bitcoin exchange LocalBitcoins has partnered with crypto tracing firm Elliptic to weed out illicit transactions on the exchange, according to a recent announcement. Blockchain analytics firm CipherTrace revealed in a report that at the end of 2019 LocalBitcoins had received the most illicit crypto assets through the year. The report added that 12.1% of ...

Peer-to-peer Bitcoin exchange LocalBitcoins has partnered with crypto tracing firm Elliptic to weed out illicit transactions on the exchange, according to a recent announcement.

Blockchain analytics firm CipherTrace revealed in a report that at the end of 2019 LocalBitcoins had received the most illicit crypto assets through the year. The report added that 12.1% of all cryptocurrencies related to criminal activity moved through LocalBitcoins.

The company appears dedicated to curbing illicit crypto on the exchange despite losing some clients whose priority is privacy and are unhappy with new policies from the company to help stop money laundering.

By Emily Mason

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