Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • ADOPTION
  • TRADING
  • HACKING
  • SLOT
  • CASINO
Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • ADOPTION
  • TRADING
  • HACKING
  • SLOT
  • CASINO
Crypto Flexs
Home»BLOCKCHAIN NEWS»LocalMonero exchange shuts down due to ‘internal and external factors’
BLOCKCHAIN NEWS

LocalMonero exchange shuts down due to ‘internal and external factors’

By Crypto FlexsMay 8, 20242 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
LocalMonero exchange shuts down due to ‘internal and external factors’
Share
Facebook Twitter LinkedIn Pinterest Email

LocalMonero, one of the largest P2P centralized platforms for XMR trading, is shutting down its services due to a global crackdown on privacy-focused tokens.

LocalMonero, a centralized peer-to-peer marketplace for trading Monero (XMR), said it was shutting down its services due to “internal and external factors.”

In a May 7 blog post, the platform said users would be able to conduct transactions until May 14, after which new transactions would be disabled. Additionally, the platform has suspended new registrations and withdrawals remain open until November 7. LocalMonero also warned that funds not claimed after the deadline “may be considered abandoned/forfeited.”

“After nearly seven years of operation, internal and external factors have led us to make the difficult decision to close the platform.”

Local Monero

Crypto.news reached out to LocalMonero for comment but did not hear back as of press time.

Founded in 2017, the Hong Kong-based platform allows users to buy and sell XMR directly to each other without the need for a centralized intermediary. The closure comes amid a global crackdown targeting privacy-focused cryptocurrencies such as Monero and ZEC.

In December 2023, cryptocurrency exchange OKX announced the delisting of XMR and other anonymous cryptocurrencies for failing to meet “stringent standards.” Afterwards, another cryptocurrency exchange, Binance, also removed XMR from its trading pairs, causing a significant drop in the token’s value. Additionally, US cryptocurrency exchange Kraken delisted Monero in Belgium and Ireland due to European anti-money laundering regulations.

The wholesale removal of XMR from centralized platforms has already had an impact on the token’s trading volume. Market liquidity for privacy tokens has hit an all-time low as cryptocurrency exchanges continue to delist the asset in an effort to comply with local regulations, according to data from blockchain analytics firm Kaiko.

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

2025-26 discussions about which coins will be ranked first in Memecoin Cycle

August 21, 2025

GEMINI has been disclosed by IPO, Tilecer Gemi’s NASDAQ listing plan

August 16, 2025

Flareonix airdrop is live! Under the share of 100m FXP today!

August 11, 2025
Add A Comment

Comments are closed.

Recent Posts

Mine BTC Daily With Okalio Mining, Allowing You To Earn Steady Profits Without Investing In Equipment!

August 25, 2025

HKGAI And FLock.io Partner To Advance Decentralised AI For Government Efficiency

August 25, 2025

BNB chain overtakes polygons with NFT sales on the 7th.

August 25, 2025

Distributed financial introduction

August 24, 2025

SANTIMENT says that Fed Rate Talk Signals Signals problems arise.

August 24, 2025

Ethereum Breaks $4,750 Support As Pepeto Crosses $6,287,248 In Presale Funding

August 23, 2025

Builders, Investors, And Developers Meet Again To Shape The Web Space

August 23, 2025

Bitcoin News Today: Ether (ETH) is 5K $ 5K and BTC Eyes is recorded as Powell Sparks Rally. DAT transaction risk: Be careful with asset managers

August 23, 2025

Bitcoin analysts bet on $ 200K after hints of Fed.

August 23, 2025

Ether ETF is a comeback of $ 280 million, with bitcoin leaked stripes hit on the 5th.

August 22, 2025

Will Cardano (ADA) step back and push the bear back low?

August 22, 2025

Crypto Flexs is a Professional Cryptocurrency News Platform. Here we will provide you only interesting content, which you will like very much. We’re dedicated to providing you the best of Cryptocurrency. We hope you enjoy our Cryptocurrency News as much as we enjoy offering them to you.

Contact Us : Partner(@)Cryptoflexs.com

Top Insights

Mine BTC Daily With Okalio Mining, Allowing You To Earn Steady Profits Without Investing In Equipment!

August 25, 2025

HKGAI And FLock.io Partner To Advance Decentralised AI For Government Efficiency

August 25, 2025

BNB chain overtakes polygons with NFT sales on the 7th.

August 25, 2025
Most Popular

Spot Ethereum ETF Competition Heats Up With Hashdex’s Double-edged Filing

June 19, 2024

A cryptocurrency expert reveals why XRP is poised for growth in a bull market.

March 14, 2024

Ethereum burned $2.5 billion worth of ETH after the merger as supply fell to an 18-month low.

December 12, 2023
  • Home
  • About Us
  • Contact Us
  • Disclaimer
  • Privacy Policy
  • Terms and Conditions
© 2025 Crypto Flexs

Type above and press Enter to search. Press Esc to cancel.