Peer-to-peer bitcoin trading platform LocalBitcoins is shutting down after a decade in operation

LocalBitcoins, a peer-to-peer bitcoin trading platform founded in 2012, announced that it will no longer provide bitcoin trading services. It is recommended that all customers withdraw funds from LocalBitcoins, and customers have 12 months to withdraw funds. The platform cited market conditions as the main reason. Specifically, LocalBitcoins will suspend user registration on February 9th, trading and wallet usage (except for withdrawals) on February 26th, and after February 17th, LocalBitcoins customers will only be able to log in to withdraw their bitcoins. Trading and wallet services will no longer be provided. LocalBitcoins was founded in 2012 and is registered with the Finnish Financial Supervisory Authority.