The CEO of LocalBitcoins, Sebastian Sonntag, talked with the financial site LearnBonds.com about the whole cryptocurrency industry and which are the plans the company has for the next few years.
Moreover, he discussed how they always believed in Bitcoin as a viable and legitimate financial system and how LocalBitcoins could expand to new markets such as the United States.
LocalBitcoins CEO Talks About Cryptocurrencies
During the interview, Mr. Sonntag said LocalBitcoins has always believed in promoting Bitcoin as a viable and legitimate financial system. In order to do so, he claims that it is very important to have a firm stance against criminal usages of cryptocurrencies.
The Finnish Financial Supervisory Authority, FIN-FSA, has recently registered LocalBitcoins as an official virtual currency provider. The CEO of LocalBitcoins considers that this provides high-quality controls and helps protect clients.
A few months ago, LocalBitcoins decided to add KYC procedures for users on the platform. Regarding this situation, the CEO explained the number of new registrations remained stable. Currently, the platform is registering around 135,000 new users per month.
Sonntag has also shared with LearnBonds.com that they are searching for legal advice on how to offer services to U.S. clients considering this is a very troublesome market to enter for cryptocurrency companies.
On the matter, Sebastian Sonntag commented:
“LocalBitcoins is currently seeking legal advice on what is the best alternative for our platform and how should it be executed.”
Finally, he considers that education is going to be a key challenge for the industry in the years to come. Considering the market has expanded at very fast rates in the last few years, individuals will have to learn about cryptocurrency basics and other cybersecurity matters.
The full interview can be read here: