LocalMonero Closes its P2P Platform

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On Tuesday, LocalMonero announced it was shutting down its peer-to-peer exchange for Monero cryptocurrency due to unspecified internal and external issues after almost seven years of operation.

While it did not provide details for the closure, the platform had allowed for direct buying and selling of Monero between users, both in-person and online.

The shutdown process will take six months, with no new signups accepted and trading stopping on May 14, and the website to be removed in November.

Monero, known for its focus on user privacy, has been delisted from major centralized exchanges like Kraken, OKX, and Binance.

Despite this, LocalMonero remains optimistic about Monero’s future and highlighted upcoming developments such as new Monero-focused decentralized exchanges and improved privacy features.