Bitcoin is in an awkward state in Australia. In the beginning, the country seemed to be quite open-minded to the idea of virtual currencies, and let things slide without any intervention. Later on, it was decided that Bitcoin would not only be taxable, but subject to additional taxation on top of the normal rate to boot. If that wasn’t enough, major Australian banks are no longer working with Bitcoin companies either.
Where can you use LocalBitcoins? In the United States, Argentina, Denmark, Norway, Russia, Venezuela, Brazil, India, Mexico. In virtually all the first world, second world and third world countries with a demand for LocalBitcoins. Where are they nog longer available? In Germany.
LocalBitcoins tweeted that it shall cease its services in Germany due to regulatory reasons. We are hoping that this is only temporary. More details are currently unknown.
LocalBitcoins is a platform which mediates between people who want to exchange Bitcoin for cash. According to freelance Bitcoin writer, Christoph Bergman, who has been writing about Bitcoin for the past year and a half (420 articles so far), it’s virtually impossible to start-up a Bitcoin business in Germany.