German authorities have cracked down on the unlicensed use of cryptocurrency ATMs and confiscated 13 machines installed in 35 different locations and $28 million in cash. This operation carried out on August 20, shows that the country is continuing the fight against financial crimes related to the cryptocurrency market.
Germany Seizes $28M In Unlicensed Crypto ATMs Operation
As the central regulator of the financial markets in Germany, BaFin coordinated the raids with the help of law enforcement agencies and the German central bank, the Bundesbank. These raids were conducted against the Cryptocurrency ATMs that were operating without licenses and $28 million in cash was seized. This created a concern of money laundering since these machines were being used without the necessary permits.
Crypto ATMs are machines that enable users to purchase and sell cryptocurrencies like Bitcoin using cash or a debit card. In Germany, though, such transactions are governed by the Banking Act where th
We współpracy z: https://coingape.com/germany-seizes-28m-in-crackdown-on-unlicensed-crypto-atms/
