What effect did LocalBitcoins’ in-person cash trade ban have on its business?

LocalBitcoins is one of the largest and most well-known peer-to-peer bitcoin trading platforms. Founded in 2012, the platform enables users to trade bitcoins with one another through various P2P methods including cash deposits, bank transfers, and until recently, in-person cash exchanges.

On June 1, LocalBitcoins announced that, due to local regulations, the firm would remove the option of in-person cash trades from its platform. After the announcement came reports that claimed LocalBitcoins was losing traders to other P2P crypto trading platforms due to its decision. The Block has analyzed LocalBitcoins’ volumes to determine whether there are merits to claims it has lost market share.