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08/22/2024
German Authority Seizes 13 Unauthorized Crypto ATMs
Bitcoin.com
Germany’s Federal Financial Supervisory Authority (BaFin) has seized 13 unauthorized cryptocurrency ATMs in a nationwide operation involving 60 officers and raids on 35 locations. BaFin reported that the machines facilitated illegal transactions and posed money laundering risks. Under German law, trading currencies, including cryptocurrencies, without proper authorization is illegal, with violators facing up to five years in prison.
BaFin Seizes Unauthorized Crypto ATMs Across Germany
The Federal Financial Supervisory Authority (BaFin), Germany’s top financial regulator, announced on Tuesday that it has seized cryptocurrency ATMs operating without authorization across the country. The announcement states, as translated by Google:
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