If you reside within the United States and use loan service BTCJam for bitcoin peer-to-peer loans, you'll need to withdraw any coins on the platform and complete all of your transactions.
United States residents will be no longer allowed to transact on the platform.
With exception of a few, this should not be too much of a burden considering the controversial loan platform has been saturated with fraudulent activity to the point many US based users have long since left its base.
The platform allows lenders and borrowers lend and receive loans in bitcoin, based on terms the borrower sets. However, more often then not borrowers simply vanish rather than fully paying back the loan.
BTCJam offers little explanation other than a Cryptsy-like message stating that the service will no longer be available in the United States.
Fortunately for any users still using BTCJam there are other options like Loanbase and BTCPop to fill the P2P lending void.
Article by Alba Gei
Image by dinbits staff
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